NEPC, an investment consultant and outsourced chief investment officer, has released findings from its 20th annual Defined Contribution (DC) Plan Trends Survey, which examines innovations across DC plans and notable shifts in participant behavior. This year's survey reveals a sustained shift toward passive target-date funds (TDFs), an increase in managed account terminations, continued fee compression, changes in U.S. large-cap equity structures and a selective approach to alternative investments.
To mark the survey's 20th year, NEPC analyzed key metrics throughout the past two decades to examine the growing role that DC plans play in retirement outcomes. During this period, DC plans in the survey expanded significantly, with plan assets growing 27-fold while the number of participants increased eightfold. This growth has been accompanied by sustained fee compression, as investment management fees have declined by approximately 67 percent throughout the past 20 years, driven
