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Washington DC, Oct. 07, 2019 (GLOBE NEWSWIRE) -- The Defined Contribution Institutional Investment Association (DCIIA) announced today the publication of a series of six brief white papers and related resources under the umbrella theme “Design Matters: The Retirement Tier.” The series sets forth the concept of a retirement tier -- a range of products, solutions, tools and services, all of which allow a defined contribution (DC) plan sponsor to broaden the plan’s goal from one wholly focused on savings to one that also accommodates and supports participants who are near, entering, or in retirement. The series highlights a retirement tier’s potential components, explores its benefits and challenges, and provides a roadmap for implementation.
“As the retirement savings system evolves there is an increasing focus on including strategies for the retirement (or decumulation) phase as well as the savings (or accumulation) phase,” said Lew Minsky, president and CEO of DCIIA. “Helping participants secure adequate retirement income should be one of the primary goals for DC plans. We encourage plan sponsors to assess their plan distribution policies, offerings, and strategy in light of this objective, and we hope that this white paper series provides useful insights to assist them in these efforts.”
The papers, which were originated by DCIIA’s Retirement Income Committee, reflect a diverse array of industry experts' perspectives and insights. DCIIA would like to thank all of the members of the committee that contributed to this discussion and, particularly, the paper’s key contributors: Rob Austin, Alight Solutions; Kathleen Beichert, Benetic; Toni Brown, Capital Group; Drew Carrington, Franklin Templeton; Joseph Healy, PIMCO; Elizabeth Heffernan, Fidelity Investments; Neil Lloyd, Mercer; and Vidya Rajappa, American Century.
The white paper series includes:
We suggest that people interested in the topic of DC plan design visit our Resource Library, where DCIIA white papers are posted alongside those of our member organizations. Our “Plan Design Matters” topic area offers insights and best practices for plan sponsors, covering topics including automatic features (auto enrollment and auto escalation), retirement income, and more.
Founded in 2010, the Defined Contribution Institutional Investment Association (DCIIA) is a non-profit association dedicated to enhancing the retirement security of America’s workers. To do this, DCIIA fosters a dialogue among the leaders of the defined contribution community who are passionate about improving defined contribution outcomes. DCIIA’s diverse group of members include investment managers, consultants and advisors, law firms, record keepers, insurance companies, plan sponsors and other thought leaders who are collectively committed to the best interests of plan participants. For more information, visit: www.dciia.org.
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Karen Witham DCIIA 202.367.1124 firstname.lastname@example.org