It’s hard to imagine a small subsection of the Internal Revenue Code, added in 1978, to have such an outsized and radical impact on Americans’ livelihoods. Yet we have now all seen how that particular subsection has revolutionized retirement saving and brought forth the concept of defined contribution as a mainstream force in society at large. And in an industry that is now a little defined by lethargy, perhaps unfairly given its regulatory and fiduciary nature, an impetus for innovation and transformation seems needed, especially in light of all the great changes that have been occurring in other aspects of finance and asset management.

We have already seen how a combination of auto-features and QDIAs like target-date funds can thrust the state of retirement security forward, we now ponder on the makeups of the next era in defined contribution for plan sponsors to enact and implement. The shift of plan sponsors’ focus to decumulation, for one, is a popular topic as the industry debates and rethinks the idea of retirement income beyond annuities. New and non-traditional investment options like private assets and ESG are being considered by a growing number of plan sponsors in the face of inflation, new economic uncertainties, and calls for crafting a more sustainable investment landscape.

The ever-changing world of technology provides further opportunities and inspirations for revolutionizing the industry. With so much to consider and discuss, join the DC institute again at Half Moon Bay this year to meet new and familiar faces as we collectively and collaboratively mull over the path forward.

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