Plan design coupled with product design can result in better outcomes for retirement plan participants, said Stephen Bozeman, senior product strategist at BlackRock.
The current focus on retirement plan costs to participants provides a growth opportunity for the use of institutional investment products in defined contribution plans.
Curtailing the current tax treatment of retirement savings plan contributions will reduce employers’ willingness to sponsor plans and workers’ ability to save, a survey suggests.
Over the past two years, defined contribution (DC) plan sponsors have taken small but significant steps to help participants improve their retirement readiness.