16 pages. "[M]anaged accounts can improve retirement outcomes across a wide range of plan environments. Their impact is largest when participant behavior is less influenced by plan design, such as in plans with lower default contribution rates, no auto-escalation, and greater reliance on individual decision-making. In more structured plans, managed accounts still provide value, but the incremental opportunity is generally smaller because automatic features already place many participants on stronger savings trajectories. Rather than asking only whether managed accounts add value, plan sponsors may want to ask where they add the most value and how they should be deployed. This analysis provides a practical framework for answering that question."  MORE >>