In 2010 Northern Trust partnered with consulting firm Greenwich Associates to conduct detailed interviews with 50 large U.S. DC plans sponsors, representing more than 970,000 participants and $100 billion in retirement assets, and five leading investment consultants. Study participants were asked to describe the ideal DC plan in terms of:
* Plan design and features
* Investment options
* Employee education and advice
* Administration
* Fees
The Path Forward: Designing the Ideal Defined Contribution Plan poised the question: "How would you design the ideal workplace DC plan if you were freed from existing laws, structures, history and standard practices?" This paper shares the 10 characteristics that plan sponsors and consultants believe would define the ideal DC plan structure.
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