THE EVOLVING DC LANDSCAPETHEEVOLVINGDCLANDSCAPE

INTRODUCTION

DC plan sponsors play a significant role in shaping the retirement outcomes of American workers. With the continued decline in defined pension benefits, workers are increasingly dependent on the defined contribution system for a significant portion of their retirement savings. As this shift continues, so does the need for the DC system to evolve.

Savings accumulation has been the primary focus for DC plans, but as an increasing number of workers retire with DC accounts, they will be tasked with translating their savings into income. This will drive demand for better solutions that address the many unique risks that retirees face in retirement. Plan sponsors have a huge opportunity to lead the charge in providing personalized retirement income solutions that address these risks and leverage institutional investment best practices. As part of PGIM DC Solutions research efforts to better understand the evolving DC landscape, we completed our second bi-annual survey of 155 plan sponsors that have at least one 401(k) plan and a minimum of $100 million in 401(k) assets. We covered everything from retirement readiness and retirement income to alternative investments and ESG. We encourage you to dive in!