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Retirement Industry People Moves
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Retirement Industry People Moves
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Institutional Retirement Income Council taps new executive director
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Considering New Uses for SDBAs
Self-directed brokerage accounts could be the answer for meeting participants’ ESG investing desires and maybe guaranteed lifetime income needs.
Reported by
Art by Allie Sullberg
Retirement plan participants are demanding environmental, social and governance (ESG) investment opportunities, and, recently, the Federal Thrift Savings Plan (TSP) announced it will make ESG funds available in a new mutual fund brokerage window for the plan.
In addition, some investment consultants say private equity can improve participants’ outcomes, and there is a clear need for guaranteed retirement income options for participants. However, no clear regulatory guidance on how to include ESG factors in investment selection for retirement plans has been given; the Department of Labor (DOL) has sanctioned the use of private equity only in asset allocation funds, such as target-date funds (TDFs), for defined contribution (DC) plans. And despite provisions of the Set
Industry leaders weigh in on what trends plan consultants should monitor in the year ahead.
What developments might impact retirement plans in 2021? We asked several industry leaders for their thoughts about the trends plan consultants should monitor during the year ahead.
Beth Ashmore
Willis Towers Watson
Heading into 2021, we think that sponsors will look to leverage their retirement plans to support employees’ financial security and seek innovative ways to deliver those benefits and manage risk. The Department of Labor will be working on finalizing requirements for Pooled Employer Plans, the development of which may accelerate the pace of innovation. There are currently bipartisan bills in the House and the Senate that are intended to continue the themes of the SECURE Act increasing access to retirement plans funds and easing plan administration, and President-elect Biden had a few retirement proposals as part of his platform that may be taken up in the new year. An