Better Benefits
Pressing Defined Benefit Plan Issues for 2024
Pressing Defined Benefit Plan Issues for 2024
Your defined benefit (DB) plan provides employees with a valuable benefit, but managing the plan can get complicated quickly.
No single strategy works for every organization. At OneDigital, we understand that challenge and work closely with clients every day to ensure their DB strategy is optimized for the current and future conditions and risk is managed to help you meet our clients’ business goals. We have invited our colleagues at Principal to share insights with us regarding their perspective as the number one service provider of defined benefit plans* and a leader in pension risk transfer**.
Rising interest rates have completely changed the DB plan landscape, as well as the solutions that may make most sense. Although it may be tempting to “take a break” from worrying about your DB plan, the current environment may present new opportunities for you and your retirement plan.
Tune in on-demand as our team recaps the current situation and explores potential solutions unique to 2024.
MEET THE SPEAKERS:
Spencer Goldstein, CFA
Senior Vice President, R+W, OneDigital
Spencer started his career in the financial services industry in 2005. He oversees investment management capabilities, defined benefit plan services, and business development initiatives. He has been recognized as one of NAPAs Top Guns (under 40), part of NAPAs Top DC Advisory Firms, and a finalist for PLANADVISER Magazine’s Retirement Plan Adviser Team of the Year. Prior to joining OneDigital, he was an analyst, trader, and portfolio manager, specializing in energy equities and commodities. He holds a Series 66 registration and is a CFA Charterholder. Spencer earned his Master of Finance and BS in Management from Tulane University’s A.B. Freeman School of Business in New Orleans, LA. He shares his passion for numbers with the sports community and is known to quote stats back to his youth. He also finetunes his ability to think a few steps ahead while keeping up his golf game when the weather permits (and sometimes when it doesn’t). When faced with a difficult decision, he can always turn to Nola (boxer and chief canine officer), who frequents the office and offers a different perspective.
Sean Patton, AIF®
Senior Vice President, Retirement Plan Services, OneDigital
Sean serves as Senior Vice President of the Retirement + Wealth division where he offers retirement plan consulting to corporate, non-profit, and foundation clients. He is involved in the local community through his memberships in Rochester Rotary. He is also the Past-President of the Board of Directors for Camp Haccamo, a Rotary Camp for individuals with disabilities. In addition, over the last 13 years Sean has served as the Chair of the Breast Cancer Coalition of Rochester’s ‘Tee’d Off at Breast Cancer Golf Tournament.
Sean was recognized by 401kWire in 2009 as one of the 300 Most Influential Advisors in Defined Contribution. He is a member of the Goldman Sachs Retirement Advisor Council and the Blackrock DC Leaders Circle. Sean also sits on the advisory boards for both PIMCO and TIAA-CREF. He received his bachelor’s degree from the University of Dayton and earned his designation of Accredited Investment Fiduciary (AIF®), from the Center for Fiduciary Studies, in association with the University of Pittsburgh. As a former hockey player, Sean has applied his love for the sport to coaching a travel team for more than 20 years. Sean resides in Penfield, NY with his wife Donna and their three children.
*PLANSPONSOR Defined Benefit Administration Survey, May 2023. Ranking is based on total number of DB plans.
**Based on total PRT assets, LIMRA Secure Retirement Institute, as of Dec. 31, 2021.
Investment advice offered through OneDigital Investment Advisors LLC, an SEC-registered investment adviser and wholly owned subsidiary of OneDigital.
These materials are provided for informational and educational purposes only and do not constitute a recommendation to buy, sell, or hold any security, nor do they constitute legal, accounting, investment, or tax advice. These statements do not constitute an offer or solicitation in any jurisdiction. All included information and data are limited only to the inputs and other financial assumptions indicated.
The risk management process involves an effort to manage risk, but not low risk.
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