Background: We’re taking a ‘minute’ to reflect on last year’s most popular Research Minute, which explored a wide range of topics within the defined contribution industry. In 2024, there were nine guest contributors from AARP, Allianz, Allspring Global Investments, Pacific Life, PGIM, TIAA Institute and T. Rowe Price.

Findings: In 2024, the most popular Research Minute topics ranged from windfall allocation choices and retirement fluency to the impact of childcare expenses on retirement and higher education savings, as well as how employers can best support caregivers with benefits designed to help them save for their children’s education.

The awards for the most popular 2024 Research Minute go to….

2024 Research Minute Awards

Highest Open Rate: What were the key takeaways from the November 2023 RRC Summit? (/24)

The 2023 November RRC Summit explored financial wellness strategies like personalized AI tools, emergency savings programs, and tailored financial coaching. Discussions on public sector retirement plans revealed concerns over funding gaps, inflation, and uncertainty, especially for women and Gen X workers. Retirement income discussions emphasized the need for balancing participant flexibility with institutional income solutions.

Highest Click Rate and Most Shared: What insights does the Future Value Index

(FVI) reveal about windfall allocation choices? (/24)

In a newly published study, the RRC's Future Value Index (FVI) study simulated how individuals allocate a windfall bonus based on income, analyzing outcomes in savings, expenditures, or debt reduction over a 10-year time horizon. Results showed that those with lower financial literacy or no financial advisors were more likely to achieve reduced long-term financial value. These findings demonstrate a clear link between planning assistance, financial education, and future wealth accumulation.

Most Popular Retirement Focused 'Minute': How can individuals make more informed decisions about their retirement preparedness? (/24)

RRC Fellows Toni Brown and Jody Strakosch conducted interviews with over 30 individuals representing 21 RRC member firms about their perspectives on retirement decision-making, including retirement income. This qualitative research identified Social Security timing, longevity literacy, and simplified language as essential for effective retirement planning.

Most Popular Financial Wellness Focused 'Minute': How can employers and service providers best support caregivers' ability to save for their children’s education? (/24)

The DCIIA RRC and Commonwealth published a joint study on how parenting and caregiving expenses are influencing individuals earning low- to moderate-income (LMI)and their ability to save for emergencies and retirement. The main finding was that employer-sponsored 529 plans, paired with emergency savings and financial education, could help LMI caregivers build college savings for their dependents.

Most Popular Guest Contributor: Do we have retirement fluency in the U.S.? (/24), Guest Contributor: Paul Yakoboski, TIAA Institute

The 2024 TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) assessed retirement fluency, knowledge that promotes financial well-being in retirement, in addition to financial literacy among U.S. adults. They found that respondents correctly answered only two questions, on average, and struggled the most with the questions about Medicare coverage and life expectancy.

Bottom line: We appreciate your continued readership, engagement and support as 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.

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