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Sales of defined contribution plans are expected to takea hit in 2020 as the coronavirus pandemic has prompted many employers topostpone or cancel putting their plans out to bid.

A survey of recordkeepers by SecureRetirement Institute and the Retirement Leadership Forum said DCplan sales are predicted to be considerably lower in the second andthird quarters of 2020, compared with pre-COVID-19 sales forecasts.The study shows recordkeepers are optimistic that sales in thefourth quarter will rebound slightly, but still fall belowpre-pandemic expectations.

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Charles Toutant

Charles Toutant is a litigation writer for the New Jersey Law Journal.