2024 SOA ImpACT Conference - Session 5H: (Re)Opening Defined Benefit Plans: An Opportunity 10.29.24 Recording

The session will address the potential benefits of (re)opening corporate defined benefit plans for plans for plan sponsors and participants alike. Despite a shift from DB to DC trend over the last 20 years, this topic is particularly relevant as many US plan sponsors are enjoying overfunded DB plan funded status, struggling with retirement income solutions in DC plans, and navigating workforce management and recruiting considerations. This session will discuss how innovative plan designs, such as market-return cash balance plans and variable-annuity plans, reduce plan sponsor risks associated with traditional DB designs. We will also discuss investment, balance sheet, retirement readiness, and implementation considerations.