As a sponsor of a defined contribution (DC) plan, have you felt increasingly responsible for participants’ financial well-being and success in retirement?

The more things change, the more they stay the same. The industry issues we are likely to see in 2020 are similar to those we highlighted for 2019. This should be no surprise given that litigation has stayed at the fore, the focus on fees remains, outsourced CIO (OCIO) has continued to grow, managed accounts continue to attract attention, interest in broader financial wellness continues and, as we predicted, the retirement phase of defined contribution (DC) plans has attracted increasing attention.

Plan sponsors will need to consider which of these priorities are most important for their plans and participants. Please reach out to your Mercer consultant to assist with setting your plan goals for 2020.

Mercer’s 2020 priorities for DC plan sponsors are oriented around three key themes:

SECURE YOUR FOUNDATION

In this litigious environment, it is essential that you have a strong governance framework in place.

ACHIEVE GREATER PROSPERITY

Focus on improving participant outcomes.

INSPIRE CONFIDENCE

Financial confidence and financial courage are a real challenge for participants, so it is important that retirement plans are oriented to address individual needs, not just those of the mythical average participant.