Stacy L. Schaus

Designing Successful Target-Date Strategies for Defined Contribution Plans (eBook, ePUB)

Putting Participants on the Optimal Glide Path

• Format: ePub

Produktbeschreibung

The ultimate guidebook for navigating the new world of pensions and retirement plans In the wake of the explosive growth of defined contribution (DC) plans invested with target date strategies, and the understanding of how important these strategies can be in effectively meeting retirement income goals, plan sponsors are seeking more optimal target date approaches. This timely book provides you with in-depth answers from the nation's most qualified and experienced experts to pressing questions about DC plan design. * Presents the views of individuals from all across the market * Includes a broad range of plan sponsors both in the corporate world and in the public/government sectors * Offers views from consultants and advisors from the most respected firms, academics who teach at leading universities, and other innovative leaders With a broad range of knowledge and insight, Designing Successful Target Date Strategies in Defined Contribution Plans helps you understand the evolution of DC plans, pulls together all angles of what it takes to develop custom target date strategies, and provides you with a look ahead to the future.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 336
• Erscheinungstermin: 17. März 2010
• Englisch
• ISBN-13: 9780470632888
• Artikelnr.: 37298208

Autorenporträt

STACY L. SCHAUS, CFP, is a senior vice president and the defined contribution practice leader at PIMCO, which manages over $130 billion in DC assets. Prior to joining PIMCO in 2006, she was a founder and president of Hewitt Financial Services LLC, where she created the Hewitt 401(k) Index. Ms. Schaus has nearly thirty years of investment experience. She has written extensively on defined contribution issues, including PIMCO DC Dialogue, and has been named by 401kWire as one of the fifty most influential leaders in defined contribution for 2010. Stacy is the Founding Chairperson of the Defined Contribution Institutional Investment Association, as well as a board and research committee member for the Employee Benefit Research Institute. She also is a former board member of the Financial Planning Association.

Inhaltsangabe

Foreword. Introduction. Acknowledgments. PART ONE DC Plan Evolution and
Design Trends. CHAPTER 1 DC Plans in the American Retirement System.
Evolution of DB and DC Plans. Making the Move from a DB Plan to a DC Plan.
How Do We Measure DC Plan Success? What Is a Qualified Default Investment
Alternative? Is Automatic Enrollment Enough? Auto-Escalation: How Much Is
Enough? How Much Should We Save to Beat Inflation? Preparing for Retirement
in an Economic Downturn. What the Future May Hold for DC Plans. In Closing.
CHAPTER 2 Evolving DC Plan Design. Investment Structure of Defined
Contribution Plans. Future of DC Plan Investment Design. Tier I: Qualified
Default Investment Alternatives--Asset-Allocation Strategies. Tier II: Core
Investment Offerings in DC Plans. Tier III: Brokerage or Mutual Fund
Window. Tier IV: Passive Investment Strategies? Evolving Structures and
Alternative Investment Strategies. Bringing It All Together: DC Investment
Structure and Guarantees. In Closing. CHAPTER 3 Target-Date Strategies:
Packaged versus Custom. Why Plan Sponsors Create Custom Target
Retirement-Date Strategies. Intel: Building Is Better than Buying. Verizon:
Well Worth the Effort. In Closing. PART TWO Development of Custom
Target-Date Retirement Strategies. CHAPTER 4 Legal and Fiduciary
Considerations. Common Legal Questions Regarding DC Plans. Investment
Policy Statements and Governance. Target-Date Strategies on the Hot Seat.
What May Lie Ahead in Legislation of Target Strategies. In Closing. CHAPTER
5 Record Keeping and Trust. Two Basic Approaches to Setting Up Record
Keeping. Custom Target Strategies Lead to New Record-Keeping Approaches.
Pros and Cons of Alternative Operational Approaches. Questions to Pose to
Your Record Keeper. Key Considerations to Determine Which Approach to
Choose. Establishing and Maintaining Operations. Conversion of Target Risk
to Target Date. Fee Allocations and Disclosures. Rebalancing the
Target-Date Strategies. Deluxe Corporation: Seamless Operational Setup and
Rollout Communication. How Record Keepers and Trustees Support Operations.
In Closing. CHAPTER 6 Communication Challenges and How to Meet Them. Common
Myths Surrounding Custom Target-Strategy Communication. Communicating the
Benefits of Target-Date Strategies. Communication: Strategies to Keep It
Simple. Communication Tools. Helping Plan Participants to Visualize Their
Postretirement Future. Communications and the Switch to DC Custom
Strategies. Communication Challenges during an Economic Downturn. In
Closing. CHAPTER 7 Evaluating Costs in Custom Strategies. Why Costs Matter.
Have You Calculated and Reduced Total Plan Cost? Keeping Fees Reasonable.
Unbundling Can Keep Down Costs. Custom Strategies and the Value of
Unitizing. Experts Discuss Fee Transparency. ERISA Section 404(c) and Fee
Disclosure. Costs of Implementing and Running Custom Target Strategies. In
Closing. PART THREE Designing and Benchmarking Custom Target-Date
Strategies. CHAPTER 8 Glide-Path Design. An Academic Look at Creating
Optimal Asset-Allocation Strategies. A Practitioner's Look at Creating
Optimal Asset-Allocation Strategies. DC Plan Success Requires a New
Approach. Evaluating the Probability of Meeting DC Retirement-Income Goals.
Evaluating Risk-Factor Exposures in Target-Date Glide Paths. Plan Sponsor
Approaches to Custom Target-Date Strategies. In Closing. CHAPTER 9 Asset
Classes and Alternatives. Clearing the Decks: Offering a Brokerage Window
to Participants. Typical DC Core Investment Offerings. Simplify, Simplify,
Simplify. Simplify yet Diversify. Suggested Core Investment Lineup. Adding
Alternatives to Target-Date Strategies. In Closing. CHAPTER 10 Helping
Protect DC Assets from Risk. How Do We Experience Risk?. 2008 Market Impact
on DC Participant Accounts. No Place to Hide. What Are the Main Types of
Risk?. Helping Protect DC Participant Assets from Risks. Importance of
Tail-Risk Hedging. In Closing . CHAPTER 11 Approaches to Benchmarking.
Introduction to Target Date Benchmarking and the Measure of Success. Common
Approaches to Benchmarking Target-Date Strategies. Benchmarking Managed
Accounts. In Closing. PART FOUR Looking to the Future. CHAPTER 12 Financial
Education, Advice, and Retirement Planning. Why Plan Sponsors Provide
Education and Advice. Is Advice Needed When a Plan Has Auto-Enrollment and
Target-Date Strategies? Education and Advice Offered by Plan Sponsors.
Evolution from Education to Managed Accounts. Comparison of Managed
Accounts and Custom Target-Date Strategies. Advice beyond Asset Allocation.
Advice beyond Advice Models. What Is Financial Planning? Financial Planning
Process. Financial Planning Fees. In Closing. CHAPTER 13 Retirement Income
and Guarantees. Encourage Participants to Stay in the Plan or Go? In-Plan
Guaranteed Income Solutions. Plan Sponsors Exploring Guarantees. Allowing
Consolidation of Outside Assets into the Plan. In Closing. Conclusion.
Notes. Index.

Rezensionen

"...the book is chock-full of interviews with more than 55 experts including consultants, plan executives, academics, financial planners, lawyers and others." (Pensions & Investments, April 5, 2010)