Mercer’s Bundled Retirement Plan Solution Mercer Wise 401(k) Passes $1 Billion in AUM
01 9월 2020 - 5:34AM
Business Wire
Mercer, a global leader in redefining the world of work,
reshaping retirement and investment outcomes, and unlocking real
health and well-being, and a business of Marsh & McLennan
(NYSE: MMC), announces that its retirement plan solution, Mercer
Wise 401(k), has exceeded $1 billion in assets under
management1.
Launched in 2017, Mercer Wise 401(k) is a bundled solution
seeking to improve participant outcomes while reducing plan
sponsors’ administrative burdens and fiduciary risk. This fully
outsourced 401(k) solution enables Mercer to take responsibility
for investment decisions within each plan as well as serving as
named fiduciary under ERISA. Mercer also assumes responsibility for
both administrative and operating functions on behalf of plan
sponsors, which may often reduce costs for plan sponsors and lower
fees and improve outcomes for participants.
Mercer Wise 401(k)’s latest AUM milestone comes at a time when
regulatory reforms are expected to further increase plan sponsors’
access to bundled plans, as evident in the passage of the 2019
SECURE Act and the establishment of Pooled Employer Plans. However,
these plans are only expected to be available starting in 2021, and
are not expected to initially offer the scale, expertise and track
record of Mercer’s bundled plan solution.
In addition to regulatory reform, the COVID-19 crisis is causing
plan sponsors to consider even more ways to efficiently and
effectively manage their retirement programs while remaining
focused on improving participant outcomes. Two recent Mercer polls
show that nearly 50% of respondents say they are spending less time
than they would like to on their retirement plans2, an issue which
is being exacerbated due to the COVID-19 crisis.
Chris Mahoney, Senior Partner and Leader for Mercer’s U.S.
Wealth business, said, “Exceeding $1 billion in AUM is another
milestone for Mercer Wise 401(k) and demonstrates Mercer’s
longstanding scale and experience in managing bundled plans,
providing us with the ability to assist prospective clients at a
time when scale and expertise are vital and many organizations are
just entering this market. While more bundled plan options are
expected to come to market next year, organizations do not need to
wait until then to obtain the benefits of bundled plans, as these
solutions are available now and can be customized and implemented
today with the right provider.”
Mercer Wise 401(k) is part of Mercer’s growing Outsourced Chief
Investment Officer (OCIO) business, which surpassed more than $300
billion in assets under management in December 20193, and currently
has U.S. Defined Contribution (DC) OCIO assets in excess of $58
billion4.
About Mercer
Mercer believes in building brighter futures by
redefining the world of work, reshaping retirement and investment
outcomes, and unlocking real health and well-being. Mercer’s more
than 25,000 employees are based in 44 countries and the firm
operates in over 130 countries. Mercer is a business of Marsh &
McLennan (NYSE: MMC), the world’s leading professional services
firm in the areas of risk, strategy and people, with 76,000
colleagues and annual revenue of $17 billion. Through its
market-leading businesses including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate
an increasingly dynamic and complex environment. For more
information, visit www.mercer.com. Follow Mercer on Twitter
@Mercer.
_________________ 1 Based on company data as of July 31, 2020. 2
Two Mercer surveys of approximately 200 retirement professionals
conducted in June 2020 and August 2020. 3 In providing OCIO
services, Mercer typically exercises investment discretion by
hiring and overseeing third party asset managers on behalf of
client portfolios. Global OCIO assets data is primarily but not
exclusively discretionary mandates. 4 Based on company data as of
December 31, 2019.
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version on businesswire.com: https://www.businesswire.com/news/home/20200831005730/en/
James Allan +1 212 345 1315 james.allan@mercer.com
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