PGIM DC Solutions, the retirement solutions provider of PGIM,
announces the results of its Defined Contribution (DC) Landscape
Survey, illuminating varying perspectives and trends across
retirement plan decision-maker communities.
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the full release here:
https://www.businesswire.com/news/home/20250212321837/en/
Michael Miller, Managing Director and
Head of PGIM DC Solutions (Photo: Business Wire)
PGIM’s research, conducted in partnership with Greenwald
Associates, is based on a survey of 302 retirement plan
decision-makers.
“Employers and plan sponsors have shown a clear interest in
providing better retirement outcomes for employees,” said Michael
Miller, managing director and head of PGIM DC Solutions. “As the
industry evolves, enhanced income solutions, plan design, advice,
education and communication will all play pivotal roles in
improving the retirement experience for American workers.”
The survey results have been organized into a four-part series,
with analysis and commentary led by David Blanchett, head of
retirement research at PGIM DC Solutions.
Key focus areas and findings include:
- Personalized solutions can improve retirement outcomes.
Survey results indicate significant interest in personalized
solutions, with 88% of plan sponsors surveyed believing
personalized advice and guidance will improve retirement outcomes.
Interest in managed accounts, especially when used as the default
investment, increases significantly at lower price points. For
example, 63% of plans are interested at 10 or less basis points,
which is significantly less than price points today which tend to
equal or exceed 25 basis points.
- Quality investments make a meaningful impact. Overall
satisfaction with plan investments is relatively high in areas such
as asset class diversification (93%), performance (91%) and cost
(85%). DC plan decision-makers were also relatively satisfied with
target-date funds (TDFs) and have relatively high conviction in
certain exposures, including active fixed income, high-yield bonds
and alternative assets such as real estate and commodities.
However, concerns exist with respect to the glide path, volatility
and lawsuit vulnerability.
- Tools and education will be key to retirement success.
Survey results reveal 81% of respondents agree a key component to
achieving retirement success entails retirees having access to
tools and education to help navigate investing, spending and Social
Security decisions. However, only 48% of plans offer tools to help
retirees determine prudent spending levels and only 20% of plans
offer Social Security claiming tools.
- There is room to improve retirement outcomes for plan
participants. While it is clear plan sponsors believe DC plans
offer competitive advantages and help retain top talent, 64% of
respondents believe plans need to be more innovative. Plan
communications are the most widely noted area for potential plan
enhancements, with 85% of respondents having noted customized
communications can lead to better retirement outcomes. Artificial
intelligence (AI) could be leveraged to simplify personalized
communications, though relatively few plans note using AI
today.
“DC plans continue to improve to help participants get not just
to, but through retirement,” noted Blanchett. “While the industry
progress is promising, our survey results suggest more can be done
to optimize retirement for DC participants, though cost limitations
persist.”
More detailed findings from the survey and accompanying
four-part series and analysis can be found here.
ABOUT THE SURVEY
The research was conducted in partnership with Greenwald
Associates. Online surveys were completed by 302 retirement plan
decision-makers in September and October of 2024. Respondents
included decision-makers for DC plans with at least $10 million in
plan assets. Larger plans were oversampled, with 152 respondents
being decision-makers in plans with at least $100 million in
assets. Findings were weighted by plan asset size, using data from
a BrightScope/ICI 2021 report.
ABOUT PGIM DC SOLUTIONS
As the retirement solutions provider of PGIM, PGIM DC Solutions
seeks to deliver innovative defined contribution solutions founded
on market-leading research and capabilities. Our highly experienced
team partners with clients on customized solutions to solve for
retirement income. As of Sept. 30, 2024, PGIM had $177 billion in
DC assets under management and PGIM DC Solutions’ AUM was $1.3
billion.1
ABOUT PGIM
PGIM is the global asset management business of Prudential
Financial, Inc. (NYSE: PRU). In 42 offices across 19 countries, our
more than 1,400 investment professionals serve both retail and
institutional clients around the world.
As a leading global asset manager with $1.4 trillion in assets
under management,2 PGIM is built on a foundation of strength,
stability, and disciplined risk management. Our multi-affiliate
model allows us to deliver specialized expertise across key asset
classes with a focused investment approach. This gives our clients
a diversified suite of investment strategies and solutions with
global depth and scale across public and private asset classes,
including fixed income, equities, real estate, private credit, and
other alternatives. For more information, visit pgim.com.
1 Reported data reflect the assets under management by PGIM and
its investment adviser affiliates for defined contribution
investment purposes only.
2 As of Sept. 30, 2024.
PGIM DC Solutions LLC (“PGIM DC Solutions) is an SEC-registered
investment adviser, a Delaware limited liability company, and an
affiliate of PGIM, Inc. (“PGIM”), the principal asset management
business of Prudential Financial, Inc. (“PFI”) of the United States
of America. PFI of the United States is not affiliated in any
manner with Prudential plc, incorporated in the United Kingdom, or
with Prudential Assurance Company, a subsidiary of M&G plc,
incorporated in the United Kingdom. Registration with the SEC does
not imply a certain level of skill or training.
Receipt of these materials by anyone other than the intended
recipient does not establish a relationship between such person and
PGIM DC Solutions LLC (“PGIM DC Solutions”) or any of its
affiliates. These materials are not intended as an offer or
solicitation with respect to the purchase or sale of any security.
The information presented is not intended as investment advice and
is not a recommendation about managing or investing retirement
savings. These materials do not take into account individual
investment objectives or financial situations.
These materials represent the views, opinions and
recommendations of the author(s) regarding the economic conditions,
asset classes, securities, issuers, or financial instruments
referenced herein. Any reproduction of this document, in whole or
in part, or the disclosure of any of its contents, without PGIM’s
prior written consent, is prohibited. This document contains the
current opinions of the manager, and such opinions are subject to
change. Certain information in this document has been obtained from
sources that PGIM believes to be reliable as of the date presented;
however, PGIM cannot guarantee the accuracy of such information,
assure its completeness, or warrant such information will not be
changed. PGIM has no obligation to update any or all such
information; nor do we make any express or implied warranties or
representations as to its completeness or accuracy. Any information
presented regarding the affiliates of PGIM is presented purely to
facilitate an organizational overview and is not a solicitation on
behalf of any affiliate. These materials are not intended as an
offer or solicitation with respect to the purchase or sale of any
security or other financial instrument or any investment management
services. These materials do not constitute investment advice and
should not be used as the basis for any investment decision. Past
performance is not a guarantee or a reliable indicator of future
results.
These materials are for informational or educational purposes.
In providing these materials, PGIM is not acting as your fiduciary
and is not giving advice in a fiduciary capacity. The information
contained herein is provided on the basis of and subject to the
explanations, caveats and warnings set out in this notice and
elsewhere herein. Any discussion of risk management is intended to
describe PGIM’s efforts to monitor and manage risk but does not
imply low risk. No investment strategy or risk management technique
can guarantee returns or eliminate risk in any market environment.
These materials do not purport to provide any legal, tax or
accounting advice. These materials are not intended for
distribution to or use by any person in any jurisdiction where such
distribution would be contrary to local law or regulation. Certain
information contained in this document constitute “forward-looking
statements,” which can be identified by the use of forward-looking
terminology such as “may,” “will,” “should,” “expect,”
“anticipate,” “target,” “project,” “estimate,” “intend,” “continue”
or “believe” or the negatives thereof or other variations thereon
or comparable terminology. Due to various risks and uncertainties,
actual events or results or the actual performance of the
investments may differ materially from those reflected or
contemplated in such forward-looking statements. Any projections or
forecasts presented herein are as of the date of this presentation
and are subject to change without notice. Actual data will vary and
may not be reflected here. Projections and forecasts are subject to
high levels of uncertainty. Accordingly, any projections or
forecasts should be viewed as merely representative of a broad
range of possible outcomes. Projections or forecasts are estimated,
based on assumptions, and are subject to significant revision and
may change materially as economic and market conditions change.
PGIM has no obligation to provide updates or changes to any
projections or forecasts.
© 2025 Prudential Financial, Inc. and its related entities.
PGIM, PGIM Investments, PGIM DC Solutions and the PGIM logo are
service marks of Prudential Financial, Inc. and its related
entities, registered in many jurisdictions worldwide.
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version on businesswire.com: https://www.businesswire.com/news/home/20250212321837/en/
MEDIA Leah Pappas 973-856-5709 leah.pappas@pgim.com
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