The Evolving Defined Contribution Landscape (2023)

In our survey of 155 plan sponsors we’ve covered everything from retirement readiness and retirement income to alternative investments and ESG.

Defined Contribution 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.

In our second bi-annual survey, PGIM DC Solutions surveyed 155 plan sponsors and a host of leading Outsourced Chief Investment Officer (OCIO) providers in the United States, to better understand the evolving DC landscape, looking specifically at two key areas. Here is what we found.

PART 1: THE EVOLVING DC LANDSCAPE

Plan sponsors have a huge opportunity to lead the charge in providing personalized retirement income solutions that address the many risks that retirees face and leverage institutional investment best practices. In part 1, we cover everything from retirement readiness and retirement income to alternative investments and ESG.

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PART 2: THE EVOLVING OCIO LANDSCAPE

401(k) plans are changing in terms of their roles, importance, and structures. Along with these shifts are changes in governance models. In part 2, PGIM partnered with Coalition Greenwich and Curcio Webb to research changes in DC plan governance models, with a special focus on the OCIO landscape.

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