The pressures of managing staff capacity, investment complexity and the customization needs of a large DC plan are causing many investment committees to consider a full or partial outsourced chief investment officer (OCIO) approach.
Whether you call it the “Great Resignation” or the “Great Rethinking,” time poverty is taking a toll on large organizations at all staffing levels. DC plan committees are losing many of their most senior decision makers, and one in four HR leaders says people are stressed and stretched too thin.
Download our exclusive Q&A with Samantha Davidson, US OCIO Leader, and Holly Verdeyen, US Defined Contribution Leader, to learn how these megatrends are driving many large DC plan sponsors to seriously consider hiring an OCIO — many for the first time.
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1 Willis Towers Watson. 2022 Global Benefits Attitudes Survey. Survey polled 9,658 US employees from large and midsize private employers across a broad range of industries in December 2021 and January 2022.
2 Verizon. Data Breach Investigations Report (DBIR), 2022.
3 Purchasing Power. The State of Employee Finances: 2022, available at https://images.purchasingpower.com/merch/b2b-pdfs/2022-PPC-The-State-of-Employee-Finances-Report.pdf. Survey of 1,105 US full-time employees, ages 18 and older (employed full time or whose spouses are employed full time), conducted March 2–4, 2022.
4 Governance & Accountability Institute (G&A). “90% of S&P 500 Index Companies Publish Sustainability Reports in 2019, G&A Announces in Its Latest Annual 2020 Flash Report,” July 16, 2020, available at https://www.globenewswire.com/news-release/2020/07/16/2063434/0/en/90-of-S-P-500-Index-Companies-Publish-Sustainability-Reports-in-2019-G-A-Announces-in-its-Latest-Annual-2020-Flash-Report.html.
5 Umpierrez A. “Plans With ESG Options See Larger Contribution Rates,” PLANSPONSOR, May 13, 2021, available at https://www.plansponsor.com/plans-esg-options-see-larger-contribution-rates/.
6 As with decisions regarding any options, the decision of whether to invest in ESG-themed options must be made pursuant to a prudent process with the objective of advancing the financial interest of the ERISA plan and its participants.