In-plan advice gets personal

Over the last 30 years, the primary retirement savings plan for U.S. employees has shifted from the employer-funded defined benefit (DB) plan to the employee-funded defined contribution (DC) plan. Although the DC plan’s flexibility and portability aligns well with today’s more mobile workforce, the shift has transferred the responsibility for determining how much to save and what to invest in from employers to their employees.

The retirement industry still lacks comprehensive and consistent answers to the overarching question of how best to help participants manage this responsibility, especially when it comes to delivering professional investment advice to millions of workers.

In this brief, developed in partnership with the Retirement Leadership Forum (RLF), we examine the latest developments for “in-plan” advice, including:

• A brief history and key drivers of the latest wave of participant advice solutions
• New innovations in participant advice
• The role of CITs in delivering innovative, cost-effective solutions

As new product and service innovations are poised to change the way participants receive advice, they are also driving important shifts in the investment vehicles used within DC plans. CITs, for example, continue to expand in a world where providers are looking to offer personalized advice at a low cost.

To learn more, read the brief: In-Plan Advice Gets Personal