Mr. Utkus is a principal and director of Vanguard Center for Retirement Research. The Center conducts and sponsors research on retirement savings in the United States, with an emphasis on private defined contribution retirement plans. Its work is designed to assist employers, consultants, policymakers, and the media in understanding developments in the U.S. retirement system. Mr. Utkus's research interests also include behavioral finance and the role of psychology in household financial decisions.
Mr. Utkus earned a B.S. from the Massachusetts Institute of Technology and an M.B.A. from The Wharton School of the University of Pennsylvania. He is a member of the advisory board of the Wharton Pension Research Council and is currently a visiting scholar at Wharton. Mr. Utkus is a member of the board of trustees of the Employee Benefits Research Institute in Washington, D.C.
February 27, 2014
Indexing in DC plans has increased sharply. In light of this trend, this retirement research paper explores participant behavioral mechanisms and how plan menu decisions can affect the cost and active risk exposure of an entire plan.
December 17, 2013
Despite heightened market uncertainty, most retirement-age defined contribution (DC) plan participants continue to move assets from their employer’s plan within five years of leaving, usually opting for an IRA rollover account.
October 02, 2013
Vanguard leaders Steve Utkus and Amy Cribbs discuss key considerations for plan sponsors thinking about developing a retirement income program for their participants.
September 27, 2013
The Department of Labor may require DC plan sponsors to estimate a future retirement income stream for participants in their account statements, but Vanguard has some reservations about the plan.
September 11, 2013
Recent Vanguard research shows how the increased adoption of target-date funds and other managed allocations can lead to improved diversification and the reduced dispersion of returns in participant portfolios in defined contribution plans.