Employers looking to ‘DBification’ of DC plans as industry matures
…In fact, plan sponsors are looking at how they can provide for the “DBification” of defined contribution plans, said Idan Shlesinger, Senior Vice-President at Morneau Shepell Ltd., during a panel discussion on the future of group retirement programs at an event hosted by TD Asset Management Inc. in Toronto. While defined contribution plans have traditionally focused on providing a savings vehicle, there have been gaps when it comes to ensuring they provide effective retirement income, he noted. As a result, employers are focusing more on plan shortcomings, what their objectives are and whether they’re meeting them. “We are seeing plan sponsors asking these questions,” said Shlesinger.
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