Nine steps you can take to support your DC plan participants during this health, financial and societal crisis
It is paramount to remember that plan fiduciaries have the responsibility to do what is in the best interest of participants, and your defined contribution (DC) plan is designed as a long-term investment vehicle to save for retirement. While the time horizon to retirement is short for some in your population, the majority will have a longer period to recover before they retire and draw down assets. One of the most important things to continue to do at this time is to manage to the long-term strategy you have set out for your DC plan.
We have identified nine areas for plan sponsors to focus on, which may benefit your participants during this time: