WHITE PAPER

QDIAs & Consultant Expectations: Meeting Retiree Needs and Enhancing Personalization

February 26, 2025

The demand for tailored solutions is expected to drive innovation in the qualified defined investment alternative (QDIA) space as participants increasingly seek retirement solutions that reflect their individual needs.

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Institutional consultants see two emerging trends shaping the future of QDIAs: an increased emphasis on retirees’ income needs and a growing movement toward greater personalization of investment solutions. This white paper, issued in partnership with PIMCO, assesses how plan sponsors can guide participants toward desired retirement outcomes in a changing retirement landscape.

Key Takeaways

Guaranteed and Nonguaranteed Solutions

Addressing the needs of retirees is evolving on two fronts: guaranteed and nonguaranteed solutions. 44% of consultants anticipate that, aside from off-the-shelf target- date funds (TDFs), the most significant growth among QDIA options over the next three years will be in TDFs with embedded guarantees.

Increased Personalization

Growing demand from younger participants is partly driving the movement toward personalization within QDIAs. Participants across generations place significant value on retirement income plans tailored to their personal circumstances and lifestyle expectations.

Finding a Solution

As plan sponsors consider personalized QDIAs, they must weigh the benefits of increased customization against the associated costs and engagement requirements to identify the best solution for their participants and plan objectives.

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SUBJECT MATTER EXPERTS

Meet Our Research Team

Adam Barnett

Senior Analyst

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Adam Barnett

Senior Analyst

Adam is a member of Cerulli’s Retirement research practice, which specializes in the defined contribution (DC) and individual retirement account (IRA) markets.

Prior to joining Cerulli, Adam was a business analyst at Fidelity Investments, where he was responsible for quality control and process improvement in the beneficiary qualification division. Throughout his tenure at Fidelity, Adam served in multiple roles, including participant services with large client 401(k)s and pensions, as well as product training in the defined benefit (DB) space.

Full biography here.

Elizabeth Chiffer

Research Analyst

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Elizabeth Chiffer

Research Analyst

As an analyst on the Retirement team, Elizabeth supports research on the defined contribution (DC) and individual retirement account (IRA) markets and provides quantitative support to Cerulli’s annual reports and Edge series.

Prior to joining Cerulli, Elizabeth was a research assistant at the Boston University School of Hospitality Administration, where she worked on papers pertaining to hospitality finance and technology.

Full biography here.

Mackenzey Santorella

Analyst

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Mackenzey Santorella

Analyst

As an analyst on the Retirement team, Mackenzey supports research on defined contribution and individual account markets and provides quantitative support to the annual reports and Cerulli Edge series.

Prior to joining Cerulli, Mackenzey interned at Hologic, Inc., and Wheel It Forward. She graduated summa cum laude from Fairfield University with a Bachelor of Science in Business Analytics and minors in Applied Statistics and Marketing.

Full biography here.