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Instant Insights / How the Coronavirus Affects HR, Benefits, and Retirement Professionals

Dealing with COVID-19's massive impact on employers, employee benefits, 401(k) and pension plans, health insurance, and more.

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Retirement plan fiduciaries play an important role in the administration of defined contribution (DC) retirement plans. When DC plans replaced pension plans a generation ago, employees took on the burden of knowing how much to save to during their working years to generate the income they’d need in retirement. Fiduciaries ensure those plan participants are provided with the right mix of investments, plan features and education to allow that to happen.

So it comes as no surprise when plan sponsors report their top retirement plan concern during the current pandemic is, “Keeping participants on track with saving and investing.”

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