Defined Contribution Plans: Approaches in Other Countries Offer Beneficial Strategies in Several Areas

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By Charles A. Jeszeck (au)
Year: 2012
Pages: 64
Binding Paperback
ISBN 978-1-4578

Product Code: 1457831562

Description

Service providers play important roles in the U.S. defined contribution (DC) retirement system since they provide services, such as administration and fund management, necessary for operating DC plans. Plan sponsors rely on such providers, yet it is unclear how much participants are paying in fees for these services. Other countries with well-established DC systems face similar issues and some use a variety of approaches to oversee DC plans and service providers and actively focus on fees charged to participants. This report examined, for selected countriesäó» DC systems, (1) how are service providers overseen by regulatory agencies; (2) what key strategies are used to improve fee disclosure to participants; and (3) what key strategies are used to reduce fees? The report selected Australia, Chile, Sweden and the UK based on, among other factors, the importance of the DC plans to the countryäó»s retirement system and the use of strategies to address service providersäó» fees. Tables and figures. This is a print on demand report.

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