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Wednesday, March 9th, 2022
A biweekly topical newsletter from PLANADVISER
Small Plans and Expanding Coverage
The defined contribution retirement plan industry has come a long way in the past few decades, growing to cover a sizable portion of the U.S. working population at the same time that pension plans have declined in prevalence. One of the clear challenges that remain, as explored in this edition of the PLANADVISER Spotlight newsletter, is expanding DC plan coverage to the small business community—and ensuring access to high-quality financial services support for communities of color and other underrepresented groups.
Data & Research
Sounding the Alarm on Gender Inequality in Retirement
A recent U.S. House Education and Labor Committee hearing covered several retirement-related topics, including how to increase pay and benefit equity for women in the workforce.
Data & Research
Legislative Retirement Reforms Over 25 Years Might Have Primarily Benefitted Wealthy Individuals
A University of Virginia law school professor examines the impacts that policy changes, which intended to boost retirement savings, have had on average inflation-adjusted savings for low-income individuals.
Data & Research
Cash Balance Plans More Popular With Smaller Plan Sponsors
An analysis from October Three also finds certain industries are more drawn to the plan design that is viewed as less risky than traditional DB plans.
RIA Aggregators Aim for Small-Plan Market Expansion
OneDigital and Ascensus recently announced the availability of a ‘co-created small market solution,’ making OneDigital the latest adviser aggregator to launch a DC plan solution targeted at small businesses.
The Different Approaches to Expanding Retirement Plan Access
Already, state-run plans, PEPs and moves to expand access to SIMPLE plans are making a difference, experts say.
Deals & People
Universal Retirement Coverage Could Help 40 Million Private Sector Workers
More savings would also strengthen the economy and the GDP, according to a Georgetown University report.
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