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    GSAM Insights

    DEFINED CONTRIBUTION 2024 TRENDS

    January 23, 2024  |  4 Minute Read 

    The retirement industry is facing an era of sweeping changes for plan sponsors and participants. Despite improving economic conditions, retirement savers may find themselves with limited resources, time and support to navigate an increasingly complex vortex of financial priorities and demands. However, SECURE Act 1.0 and 2.0 have provided the catalyst for a proliferation of new plan features and plan design options, giving sponsors more ways to support participants’ savings and financial wellness goals.

     

    Additionally, technological innovations are enabling service and product offerings to provide more personalized capabilities to savers, driven largely by a growing awareness of the impact of individual circumstances on retirement outcomes.

     

    Meanwhile, plan sponsors are feeling the effects of consolidation across the industry, from recordkeeping to advisory firms and more.

     
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    2024 Defined Contribution Trends

     

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    Glossary

    Hybrid QDIA:  A plan qualified default investment alternative (QDIA) whereby participants are transferred from one QDIA investment to another QDIA investment option based on set plan criteria.   For example, a hybrid QDIA could default participants to a target-date fund then transfer participants
    to a managed account based on an age trigger.

    SECURE Act 1.0 and 2.0: Key retirement legislation SECURE Act (“Setting Every Community Up for Retirement”) went into effect in January 2020 and SECURE Act 2.0 was signed into law in December 2022.

    Disclosures

    THESE MATERIALS ARE PROVIDED SOLELY ON THE BASIS THAT THEY WILL NOT CONSTITUTE INVESTMENT ADVICE AND WILL NOT FORM A PRIMARY BASIS FOR ANY PERSON'S OR PLAN'S INVESTMENT DECISIONS, AND GOLDMAN SACHS IS NOT A FIDUCIARY WITH RESPECT TO ANY PERSON OR PLAN BY REASON OF PROVIDING THE MATERIAL OR CONTENT HEREIN. PLAN FIDUCIARIES SHOULD CONSIDER THEIR OWN CIRCUMSTANCES IN ASSESSING ANY POTENTIAL INVESTMENT COURSE OF ACTION.

    Risk Considerations and General Disclosures

    All investing involves risks.  Target Date Funds are subject to the risks associated with the underlying funds in which they invest. These risks change over time as the fund’s asset allocation strategy adjusts as it approaches it target date.

    The views expressed herein are as of January 10, 2024 and subject to change in the future. Individual portfolio management teams for Goldman Sachs Asset Management may have views and opinions and/or make investment decisions that, in certain instances, may not always be consistent with the views and opinions expressed herein.

    Views and opinions expressed are for informational purposes only and do not constitute a recommendation by Goldman Sachs Asset Management to buy, sell, or hold any security, they should not be construed as investment advice.

    THIS MATERIAL DOES NOT CONSTITUTE AN OFFER OR SOLICITATION IN ANY JURISDICTION WHERE OR TO ANY PERSON TO WHOM IT WOULD BE UNAUTHORIZED OR UNLAWFUL TO DO SO.

    This material is provided at your request for informational purposes only. It is not an offer or solicitation to buy or sell any securities.

    This material is provided for informational purposes only and should not be construed as investment advice or an offer or solicitation to buy or sell securities. This material is not intended to be used as a general guide to investing, or as a source of any specific investment recommendations, and makes no implied or express recommendations concerning the manner in which any client’s account should or would be handled, as appropriate investment strategies depend upon the client’s investment objectives.

    This information discusses general market activity, industry or sector trends, or other broad-based economic, market or political conditions and should not be construed as research or investment advice. This material has been prepared by Goldman Sachs Asset Management and is not financial research nor a product of Goldman Sachs Global Investment Research (GIR). It was not prepared in compliance with applicable provisions of law designed to promote the independence of financial analysis and is not subject to a prohibition on trading following the distribution of financial research. The views and opinions expressed may differ from those of Goldman Sachs Global Investment Research or other departments or divisions of Goldman Sachs and its affiliates. Investors are urged to consult with their financial advisors before buying or selling any securities. This information may not be current and Goldman Sachs Asset Management has no obligation to provide any updates or changes.

    Confidentiality

    No part of this material may, without Goldman Sachs Asset Management’s prior written consent, be (i) copied, photocopied or duplicated in any form, by any means, or (ii) distributed to any person that is not an employee, officer, director, or authorized agent of the recipient.

    Date of First Use: January 10, 2024  351247-OTU-1942926

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