Improving participant outcomes means going beyond the retirement plan.
Our discovery tool can help DC specialists align their services with plan sponsors’ needs.
Stable value funds and money market funds are often compared in terms of their returns … but only one has had consistent performance over the long term.
The SECURE 2.0 Act of 2022 includes nearly 100 provisions (some required, some optional) related to retirement plans and IRAs that expand participant coverage, help participants preserve income and simplify plan rules and administrative procedures.
American workers are suffering from a decline in confidence that they will be sufficiently prepared for retirement — and they’re looking to their employers for help.
Plan sponsors often find the target date fund (TDF) selection process understandably daunting. Evaluating TDFs is a multi-faceted process that requires a deep dive into the four components of TDF design — glide path design, asset allocation, selecting underlying managers, and portfolio construction.
Retirement readiness is a major challenge for many plan participants. For plan sponsors, plan design is no longer about simply focusing only on helping participants build their savings. Providing participant income solutions in the decumulation stage is now equally important, especially because new research shows that many workers need help in this area.
Passive investing has become popular with defined contribution plans due to its low costs and ease of use. In addition, many DC plan sponsors tend to view offering passive funds as a means of preventing participant lawsuits. But fiduciary responsibility doesn't automatically equate to offering only the least expensive or most hands-off investment options.
Voya’s biannual defined contribution plan sponsor survey seeks to offer perspectives on sponsors’ priorities, the challenges they face, and the services they may need.
What do plan sponsors want from the defined contribution specialists who service their plans? And how does that differ from specialists’ perception of what their clients are looking for? In February and March 2023, Voya Investment Management conducted an online survey of retirement plan sponsors and DC specialists to identify the evolving priorities and service needs of sponsors, help DC specialists align their service offerings to client/prospect priorities, and identify unfolding opportunities and offer suggestions to DC specialists.