Imagine there was an option to assemble the ideal retirement savings plan: a pinch of automatic features, a teaspoon of benefits guarantee, a cup of pooled investments, stirring the best elements of a defined benefit pension into the structure of a defined contribution plan. It may not be as simple as combining ingredients, but as […]
At Benefits Canada’s Defined Contribution Plan Summit in Montreal in February, member engagement and communication were a clear focus of many of the presentations. Case studies presented at the conference provided a number of solutions. Larry Schmidt, director of human resources at U.S.-based Searles Valley Minerals Inc., noted his company used automatic enrolment and escalation […]
Meeting plan members’ retirement goals (29 per cent) and managing litigation risk (25 per cent) are the top factors driving defined contribution pension plan sponsor decision-making, according to new research by global investment manager PIMCO. The annual research surveyed nearly 70 defined contribution consultants and advisors providing services to more than 12,000 plan sponsors in […]
Pre-retirees in the United States report a high level of confidence when their savings are on auto-pilot, a survey finds.
The main deterrent for some employers is the increased costs that would result. Another reason is, employers prefer not to force enrollment on employees who don’t want to commit a set amount of their salary to a retirement plan.
The main challenges of retirement savings—plan participation, contribution rates, and portfolio diversification—are being met head-on by sponsors through their plan and investment menu design decisions, finds a Vanguard report.
When U.K.-based Sainsbury's had to modify its pension, positioning the changes properly to 161,000 employees was critical.
Canadian DC plan sponsors need a boost to drive employees’ retirement savings
To improve the long-term financial outlook for workers, a survey finds that the majority of U.S. companies now offer automatic features in their 401(k) plans to ensure workers are saving enough to receive full company matching contributions over time.
Automatic enrollment can have a powerful influence on participant saving and investment behaviour, finds a Vanguard study.