DCFOCUS

Make the most of defined contribution plans

Nov 5, 2015
By BlackRock

Sometimes, when you boil down what we do to the basics — helping people get the most out of their DC plans to build their retirement futures — you realize its true importance.

I took that tack at a social gathering recently. Instead of answering the question, "What do you do?" with my typical, "I work in finance," I said I worked with 401(k)s and retirement planning. Suddenly, a number of guests were asking me many questions — from "This is what I'm saving. Is it enough?" to "Am I invested in the right thing?" And even, "Could you describe what a target date fund does?"

That experience underscored for me just how deeply the people we serve care about and need the services we provide, even if they don't always understand them or use them wisely. And that's why our responsibility is so important: Helping people better leverage their retirement plans, so they have more opportunities to close the retirement income gap between what they have currently saved and the income they might really need, or want, in retirement.

I truly believe we can get more people saving for retirement. We can get them saving more, and starting earlier. And we can get them to invest in more effective ways.

Let's take a fresh look at our plans, and the tools we have at our fingertips, so we can improve the retirement futures of our participants and their families.

And while you're at it, go talk to people about their 401(k)s - you may be inspired as well.

Make the most of defined contribution plans: Help build retirement futures

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