Can Asset Diversification & Access to Private Markets Improve Retirement Income Outcomes?
Expanding the TDF investment opportunity set to include a wider and more diverse selection of asset classes can help drive greater returns and improved income outcomes for millions of U.S. workers.
This year’s invitation-only Forum will look ahead to 2024 and the 50th anniversary of the Employee Retirement Income Security Act (ERISA). What have been some of ERISA’ s most significant accomplishments and what have been some unintended consequences? How well has our nation’s retirement policy kept pace with innovation? As we look to the future, is there a need to reexamine the legal and regulatory framework of our nation’s retirement system — and should we start with an ERISA 2.0?
- The Honorable David M. Walker, Former Comptroller General of the United States, will deliver a keynote address.
Has the Lack of Asset Diversification in DC Retirement Plans Been a Costly Missed Opportunity?
This study asks the question, “Should DC plan sponsors emulate DB plans by increasing or introducing allocations to illiquid assets within target date fund options?” This analysis, conducted by CEM Benchmarking, focuses on the period 2011–2020 and assesses how DC plan participants’ experiences would have changed had DC TDFs made higher allocations to illiquid assets during this time. The results suggest the potential increase in returns may have been a missed opportunity. On August 22, 2023, the CRI will host a webinar with experts to discuss the study findings and the recent voluntary UK Mansion House Compact intended to boost allocations to unlisted equities by 2030.
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2023 State Program & Legislative Activity Map
Click on the map below to view program information quick links (red shaded states)
Login to view detailed 2023 state legislative activity updates (green states)
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Source: Georgetown University’s Center for Retirement Initiatives
Source: Georgetown University’s Center for Retirement Initiatives
State Program Action Updates
Upcoming board meetings:
- VA: 10/11; ME: 10/18; CT: 10/20; NJ:10/20;
OR: 11/14; IL: 11/16; CA: 11/13; MD: 12/4;
CO: 12/14
Recent program action:
- MN program seeks inaugural board members (apply here)
- NJ selects Vestwell as its program administrator
- ME releases RFP for media and digital marketing services (closes 10/10)
- CA releases RFP for investment consultant (closes 10/6)
- Hawaii search for program executive director
- CA, CO, CT, IL, MD, and OR August 2023 program data available
- State programs surpass the $1 billion in assets milestone. Read related press.
- CO and ME announce partnership. View press release.
View data for: Current Year | Prior Years
CRI State Resources
State Program Data | State SBA Profiles | State Benefits | State Employer Timelines | State FAQs | State Program Snapshots | State Resource Center
Federal Proposals
118th Congress, 1st session
Recently introduced:
→ See more from the 118th Congress, 1st Session
117th Congress, 2nd session
- Retirement Savings Modernization Act
- Retirement Protection Act of 2022
- Maximize Americans’ Retirement Savings Act of 2022
→ See more from the 117th Congress, 2nd Session and previous sessions
International Programs
→ View international reports and country updates (login may be required)
New Jersey picks Vestwell to administer Secure Choice Savings Program (Pensions and Investments, September 26, 2023)
America’s Most Popular Retirement Plan Shouldn’t Be ‘Work ’til I Drop’ (Townhall, September 16, 2023)
All You Need to Know About State-Run Auto-IRA Programs (ValueWalk, September 14, 2023)
New state retirement program targets small-business employees (Portland (ME) Press Herald, September 8, 2023)
Workers in this state will now have an easier time saving for retirement (Marketwatch, August 23, 2023)
→ See more coverage of CRI or submit a media inquiry.
Recommended News & Reports
Federal Reserve: Economic Well-Being of Households in 2022
Vanguard: How America Saves 2023
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