A new publication by DCIIA that presents an unbiased, fact-based assessment that validates and dispels assertions and assumptions that are made about DC plans’ contribution to retirement adequacy. Design Matters: The Influence of Plan Design on Retirement Outcomes draws on Employee Benefit Research Institute (EBRI) records, which comprise the nation’s largest and most comprehensive retirement savings database. It highlights where the 401(k) system is working well and where it could be improved, and identifies initiatives, behaviors, policies, and approaches that may either boost or diminish retirement readiness among American workers.
Financial Wellness programs have been garnering attention in the marketplace, as employers consider how to foster workplace productivity by prioritizing employee benefits and motivating positive employee behavior regarding personal financial matters. This may be due to the growing perception that both the employee and employer can benefit from investments in such programs. Accordingly, the practice of enhancing employee benefits to encourage engagement in achieving both current and future financial goals has begun to gain traction, and is evolving as a logical companion to health and retirement benefits for many employers.
Improving retirement outcomes is one of the core beliefs of the Defined Contribution Institutional Investment Association (DCIIA). DCIIA believes that plan sponsors who adopt thoughtful defined contribution (DC) plan designs may improve the likelihood of their employees achieving positive retirement outcomes.