Research

Getting the most from defined contribution (DC) plans: How can you enhance the retirement readiness of your workforce?

April 10, 2018
| United States

Even though they were never designed or expected to be the primary vehicle for retirement income, it appears that defined contribution (DC) plans have now assumed that role in the workplace. This reality has important implications for both plans sponsors and participants alike — as employees and employers increasingly share responsibility for retirement savings. As a result, plan sponsors need to take a more active role in helping employees navigate their own retirement journey.

The Willis Towers Watson Defined Contribution Plan Sponsor Survey reveals how retirement planning is changing to support this new role in a predominantly DC-based landscape.

Download our executive summary to learn more about these trends.

7 tactics plan sponsors can take to increase employees’ retirement readiness

7 tactics plan sponsors can take to increase employees’ retirement readiness: Automatic features, Streamlined investment choices, tax diversification via Roth contributions, Increased employer contributions, Improved transparency and overall burden of administration fees, Health savings accounts as a vehicle for retirement savings, and expanding financial well-being communication

Source: 2017 Willis Towers Watson Defined Contribution Plan Sponsor Survey