A lot has changed in the retirement industry over the past decade. From investment options and financial wellness to private markets and evolving target date funds, the issues facing retirement plan sponsors continue to shift.
Following a recent TPSU program at Marquette University in Milwaukee, Wisconsin, Fred Barstein, founder and CEO of TPSU and 401kTV, spoke with Todd Barden, TPSU’s longest-serving adjunct lecturer, about how the industry has evolved over the past 11 years.
Todd reflected on how earlier conversations focused heavily on expanding investment options, including sector funds and different approaches to capital markets.
Over time, the focus shifted toward participants, with greater attention to financial wellness and helping employees prepare for retirement.
Today, investment discussions are evolving again, with growing interest in private credit, private markets and changes to target date funds.
But while the topics may change, one thing remains consistent: the value of learning from other plan sponsors.
Todd emphasized that TPSU provides more than education. It gives employers an opportunity to connect with peers, exchange ideas and learn how other organizations are addressing similar retirement plan challenges.
The takeaway? Retirement plans will continue to evolve, but bringing plan sponsors together to learn from one another remains just as important as ever.
Read the Full Transcript Here:
Fred Barstein: Greetings, this is Fred Barstein, CEO and founder of TPSU and 401kTV. We just completed a program here on the campus of Marquette University with Todd Barden, our adjunct lecturer.
Todd, welcome.
Todd Barden: Yeah, thank you, Fred.
Fred Barstein: Okay if I ask you a few questions?
Todd Barden: Absolutely.
Fred Barstein: So, as the longest-tenured advisor we’ve had serving as an adjunct lecturer, and the only advisor that we know of who’s been to Harvard to focus on negotiation, what do you think has changed over that 11-year period?
What were people talking about 11 years ago, and what do you think they’re interested in now?
Todd Barden: Yeah, so boy, what 11 years it’s been, right? I mean, the dynamic shift in people’s attitudes and ideas.
Eleven years ago, we went through a period of adding all types of funds, right? We got into sector funds and different ideas around capital markets and things like that.
Then, in more recent years, the focus was probably more toward participant-centric opportunities, right? Financial wellness, participant needs and things like that.
And today, we’ve kind of come full circle and talked about private credit, private management and just the evolution of target date funds and the changes.
So I think all of this keeps evolving. There have been points in time when certain things were important, and maybe they’re still important today, but the changes in ideas and the rapidly evolving economy are changing our world.
Fred Barstein: Right. And retirement is changing, too.
Todd Barden: Retirement is changing.
Fred Barstein: People are living longer.
Todd Barden: Yes.
Fred Barstein: Fewer defined benefit plans and, hopefully not, but maybe potential issues with Social Security, which is a big deal.
Todd Barden: Correct.
Fred Barstein: So, good. Well, thank you for your participation and consistency over 11 years, every year. Haven’t missed one.
Why do you think a plan sponsor should come to TPSU? What’s the biggest benefit?
Todd Barden: Yeah, I think, as you know, people learn with other people, right?
It’s the classroom setting. It’s being part of something and learning through their colleagues. And I think that’s really valued.
I think when people get here and get to know some of the member firms and understand what they’re going through, they can also come to different solutions, right?
And it’s the collaboration together that I think is really good.
And look, Milwaukee, though it sometimes seems big, really isn’t, right? We’re kind of a smaller community, and we look to work with others and find ideas.
Fred Barstein: Very good. Well, thanks again for your participation.
Todd Barden: Thank you, Fred.
Fred Barstein: And thank you for watching 401kTV.
