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News & Publications
ICI and ISS Market Intelligence Report: 403(b) Plan Participants Benefit from Employer Contributions and Diverse Investment Choices
Washington, DC; August 27, 2025—A new report from the Investment Company Institute (ICI) and ISS Market Intelligence (MI) finds that most employees in large 403(b) plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) receive employer contributions, giving them a significant boost towards long-term retirement security. The ICI/ISS MI Defined Contribution Plan Profile: A Close Look at ERISA 403(b) Plans, 2022 found that 85 percent of large ERISA 403(b) plans covering more than three-quarters of large ERISA 403(b) plan participants received employer contributions in 2022...
The Fact(or)s Matter When Measuring TDF Performance
Target date funds (TDFs) 1 have steadily become a mainstream option among retirement investors, 2 with some academics describing TDFs as “one of the most important financial innovations for the typical American retail investor” in recent decades. 3 These strategies, which are popular for their broad diversification and automatic rebalancing over time, 4 are garnering attention in Washington as regulators evaluate their status as a default investment option in 401(k) plans. They’ve also come into focus, as the dominant performance trends of recent years—e.g., equities over bonds, US over...
Additional Resources
- SEC Reopens Comment Period for Its Target Date Funds Proposal (Apr 3, 2014)
- Investor Advisory Committee’s Target Date Funds Recommendation (Apr 11, 2013)
- SEC Proposal for Target Date Fund Names and Marketing Materials (Jun 16, 2010)
- Hearing on Target Date Funds, U.S. Senate Special Committee on Aging (Oct 28, 2009)
- Comments Submitted to SEC for Joint DOL/SEC Hearing on Target Date Funds (Jun 18, 2009)