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July 2019

DC Viewpoints

With Challenges Come Opportunities

The return of market volatility and proposed legislation to mandate the inclusion of part-time workers in 401(k) plans are just two of the highlighted topics in this issue of GSAM Defined Contribution Viewpoints. For our DC in Focus discussion, we provide an analysis of the gender gap in retirement savings – and how recent policy initiatives and workplace solutions could potentially help close the gap.

  • Market Highlights: After a period of domestic leadership, we think the US is “catching down” to the more modest pace of global growth. We remain supportive of risk assets but caution investors for emergent late-cycle risks. Volatility remains a key metric to monitor for near-retirement investors.
  • Heard on the Hill – Retirement Public Policy: The retirement policy agenda seems to have some momentum as we progress into the latter half of 2019. The Secure Act was introduced in Congress on March 29 and has become one of the leading contenders for a retirement savings package in a divided Congress, receiving bi-partisan support and backing from many interested stakeholders. We highlight certain key provisions of the proposed bill and policy implications of note for retirement plan sponsors.
  • DC in Focus – Women in Retirement: On average, women have 62% lower IRA balances than men when they reach retirement age. We explore key factors driving the retirement savings gap that women experience: pay, caregiver support, access to workplace savings and financial education; and how some initiatives and approaches can potentially help address these challenges.

RELATED INSIGHTS

DC Viewpoints

The return of market volatility and proposed legislation to mandate the inclusion of part-time workers in 401(k) plans are just two of the highlighted topics in this issue of GSAM Defined Contribution Viewpoints.