Background:

It’s hard to believe the RRC Research Minute was launched two years ago! We’re taking a ‘minute’ to look back at the most popular Research Minutes of 2023.

Findings:

In 2023, the Research Minute had a total reach of 71,143 industry practitioners including nearly 5,300 shares and over 1,400 clicks. The most popular ones (by various metrics noted below) covered diverse topics ranging from financial wellness examined through a lens of gender and DEI, longevity, and investment topics such as defaults. This variety showcases a holistic approach to studying, understanding, and innovating retirement research, thereby strengthening the DC industry.

The awards for the most popular 2023 Research Minutes go to…

2023 Research Minute Awards

Most Views:

What Do Windfalls Tell us About Personal Financial Wellness: Are There Differences By Gender?

In February 2023, the RRC fielded an in-depth, 2,500-employee survey assessing financial wellness, which found that there are distinct differences in priorities and confidence between genders. While women have lower confidence scores (66% of men ranking high or very high levels of confidence, compared to only 34% of women), their financial literacy scores are nearly identical to men’s financial literacy scores (51% for men versus 49% for women). Further, in terms of their prioritization of their theoretical “windfall,” women are more inclined to prioritize bill payments and reducing debt versus men focusing on saving and discretionary spending.

Highest Open Rate:

Through a DEI Lens: Where are the disparities and how can they be addressed? (Part One)

Part one of this “Research Minute” series analyzed the ratio of account balances to salary by age, gender and race/ethnicity for a synthetic universe using CFERS data. Findings included that Asian females have the best outcomes, followed by Asian males. Black males appeared to have the most negative outcomes from this synthetic universe, followed closely by Black females, then Hispanic females, Hispanic males and white females.

For reference, DCIIA, the Aspen Institute Financial Security Program and the Morningstar Center for Retirement and Policy Studies launched the Collaborative for Equitable Retirement Savings (CFERS), which analyzes anonymized DC plan participant data to understand differences in how participants from different demographic groups use, experience, and benefit from their retirement plans. This data will provide the basis for analysis designed to assist plan sponsors to take specific actions within the DC system to help mitigate existing disparities.

Highest Click Rate:

What are the unique circumstances women face with longer lifespans?

This Research Minute is a complement to the two-part RRC Pod featuring Ashwini Apte (BlackRock) and Dominika Turkcan (DCIIA RRC). They discussed how gender intersects with increasing longevity, and what that means for retirement readiness. Check out the full episodes here.

Most Shares:

Exploring the Evolution of Defaults and Emerging Solutions

This Research Minute highlighted the key findings in the Choice and Evolution in Defaults report, published by the DCIIA Investment Policy & Design Committee. This report noted four key themes that guide both the optimal choice of a default today, and their future evolution.

Bottom line:

We appreciate your readership and support! RRC members, share your organization’s research in a future Research Minute by signing up here. If you have ideas for topics that you would like covered, please email us at RRC@dciia.org. Please continue to read, click, and share future Research Minutes to keep the conversation going, and join us on LinkedIn by commenting/liking/sharing.

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