Ten years after passage of the Pension Protection Act, JPMorganAsset Management argues that many defined-contribution planparticipants are no better off than before the act. In a paperreleased last month, JPMorgan made the case for plan sponsors toimplement re-enrollment initiatives to address improperly allocatedaccounts.
“It's important not to underestimate the damage that can becaused by inappropriate asset allocation by DC plan participants,”Anne Lester, head of retirement solutions for J.P. Morgan AssetManagement, said in a statement. “Re-enrollment is one action plansponsors can take that can quickly help move the needle towardbetter retirement outcomes for plan participants.”
That change is largely effected by reallocating participantsinto target-date funds.
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