Charlie Cote, head of Retirement Link Sales at J.P. Morgan
Asset Management, reflects on two decades of working with defined contribution retirement
plan investors.
Experts range in their confidence about Congress’ desire
and ability to enact meaningful retirement-focused legislation, either before
or after the upcoming presidential election.
Starting with the Pension Protection Act, the U.S. Congress has tweaked and amended pension funding rules a handful of times in recent years, but has it worked?
Alongside the use of automatic enrollment, the biggest
development in QDIAs in the past 10 years has been the replacement of stable
value or money market funds as the default with TDFs.
While industry practitioners often have deeply held
convictions about how to improve the U.S. retirement system, there are already many
things plan advisers can do under current legislation and regulations to
improve retirement security of American workers.
Advisers are working with more plans today than they ever
have—completing more services for more diverse types of clients than was the
case prior to the full implementation of the Pension Protection Act.
In conversation with Anne Lester, one of J.P. Morgan’s leading
voices on public policy, we hear about the growing sense of urgency she sees in
Washington to help more people prep for retirement.
While there is still a lot of room for improvement in the
U.S. retirement planning system, one DC industry executive suggests the “blueprint
for success” has been drawn out.
Franklin Templeton Investments’ DC business leader urges
lawmakers and fellow industry pros to take a more holistic view of the U.S.
retirement system—and to be thoughtful about planning major reforms.