Janus Henderson Research Portfolio - Institutional Shares · NASDAQ:JAGRX
Janus Henderson Research Portfolio - Institutional Shares — Janus Henderson Investors — Q2 2026 Earnings Presentation
46 slides from Janus Henderson Research Portfolio - Institutional Shares's earnings presentation, July 2026
Slide 1: Top Defined Contribution Trends and Developments
TOP DEFINED CONTRIBUTION TRENDS AND DEVELOPMENTS Second quarter 2026 edition A curated update on the latest happenings in the retirement plan world April 1 to June 30, 2026
Slide 2: A defined contribution partner with more to offer
A defined contribution partner with more to offer 50 years as a trusted partner to advisors looking to grow their retirement business Top Defined Contribution Trends and Developments is curated quarterly to help plan advisors, consultants, and plan sponsors stay 10+ Published for over a decade up to
Slide 3: Investing in a brighter future together
Investing in a brighter future together 90+ 370+ 25 year track record of INVESTMENT OFFICES INVESTMENT PROFESSIONALS worldwide EXPERTISE with an average of 18 years of experience Source: Janus Henderson Investors, as of March 31, 2025. 3
Slide 4: Table of contents
A defined contribution partner with more to offer 50+ years as a trusted partner to advisors looking to grow their retirement business Table of contents Best practices: Practical trends for plan integration (pg. 5-13) Participants’ corner: Review of the retirement readiness of plan participants (pg.
Slide 5: Best practices
Best practices INVESTORS.
Slide 6: Pensions & Investments announces 2026 Eddy Award Winners
Best practices Pensions & Investments announces 2026 Eddy Award Winners ▪ Out of the 51 plan sponsors that were honored this year, we highlight the following winners and the best practices you can take to your investment committees and/or plan sponsors: ▪ University of Iowa – Plan transitions ▪ HAI
Slide 7: Strategic communication drives successful plan transition
Best practices Strategic communication drives successful plan transition ▪ The University of Iowa recently completed a comprehensive overhaul of its three retirement plans, affecting roughly 42,000 participants and $11 billion in assets ▪ The initiative focused on improving retirement readiness by s
Slide 8: Access and education drive financial wellness
Best practices Access and education drive financial wellness ▪ Recognizing that financial wellness extends beyond retirement savings, HAI Group built a holistic program, ensuring employees fully understand and utilize the resources available to them ▪ In partnership with their recordkeeper, HAI prov
Slide 9: Tailored communication drives participant action
Best practices Tailored communication drives participant action ▪ Quad/Graphics developed a yearlong retirement readiness campaign that broke complex retirement topics into a series of timely, easily digestible modules delivered throughout the year ▪ Recognizing that nearly 70% of employees worked o
Slide 10: Combining auto features with personalized guidance
Best practices Combining auto features with personalized guidance ▪ Sauk Prairie Healthcare paired automatic plan features with personalized education to transform enrollment into long-term participant engagement ▪ Education begins on day one, with on-site retirement specialists guiding new hires th
Slide 11: Gamification turns engagement into enrollment
Best practices Gamification turns engagement into enrollment ▪ Faced with the challenge of educating employees across more than 300 school districts, SchoolsFirst Retirement Planning created a virtual campus to increase awareness and engagement ▪ With the help of their recordkeeper, SchoolsFirst lau
Slide 12: Using brand identity to increase engagement
Best practices Using brand identity to increase engagement ▪ Red Wing Shoe Co. leveraged an existing marketing campaign centered on family legacy and generational impact to encourage employees to review and update retirement plan beneficiaries ▪ Rather than focusing solely on plan administration, co
Slide 13: Best practices: Key takeaways
Best practices: Key takeaways Segment participant demographics for targeted communication Encourage executive leadership to champion wellness initiatives Leverage multiple communication channels to fit participant preferences 13
Slide 14: Participants' corner
Participants’ corner
Slide 15: Decumulation planning gap persists
Participants’ corner Decumulation planning gap persists ▪ A recent Corebridge Financial survey found that while many Americans view retirement positively, uncertainty around spending accumulated savings remains a significant source of anxiety ▪ Only 28% of respondents are comfortable drawing down re
Slide 16: Retirement confidence dips
Participants’ corner Retirement confidence dips ▪ The 2026 EBRI/Greenwald Retirement Confidence Survey reveals that despite declining retirement confidence, participants remain highly satisfied with their workplace retirement plans ▪ 88% of participants are satisfied with their plan, and 85% say the
Slide 17: Plan design improvements boost participant outcomes
Participants’ corner Plan design improvements boost participant outcomes ▪ The 25th annual “How America Saves” report from Vanguard reveals that plan design continues to drive retirement outcomes ▪ Plan participation reached a record 86% in 2025, up from 65% 25 years ago, largely due to the widespre
Slide 18: One financial wellness strategy does not fit all
Participants’ corner One financial wellness strategy does not fit all ▪ According to research from Financial Finesse, overall financial wellness scores declined in 2025, but aggregate results obscure a growing divide between workforce segments ▪ Gen Z workers with household income below $60,000 expe
Slide 19: Women and advisor satisfaction
Participants’ corner Women and advisor satisfaction ▪ A recent survey from the Nationwide Retirement Institute found that women investors who work with a financial advisor generally feel heard, valued and treated the same as their male counterparts ▪ While women generally feel respected, many report
Slide 20: Employees seek help to maximize benefits
Participants’ corner Employees seek help to maximize benefits ▪ Findings from the 6th annual State of the Workplace Financial Benefits Study reveals that nearly eight out of 10 employees believe their employer could do more to help them understand and maximize benefits ▪ Financial benefits have incr
Slide 21: Managed accounts drive engagement
Participants’ corner Managed accounts drive engagement ▪ Participant engagement remains a top driver of long-term retirement progress and savings behavior, according to Empower’s latest study ▪ Participants who feel connected to their plan are 1.5 times more likely to save up to their employer match
Slide 22: Advisors remain preferred source for rollover advice
Participants’ corner Advisors remain preferred source for rollover advice ▪ A recent Investment Company Institute (ICI) study found that advisors continue to play a central role in rollover decision-making ▪ 64% of participants consulted a financial advisor when making a rollover decision, compared
Slide 23: Participants' corner: Key takeaways
Participants’ corner: Key takeaways Expand access to retirement income planning and decumulation education Combine automatic plan features with ongoing participant engagement and education efforts Evaluate emergency savings solutions to help reduce retirement plan leakage Integrate caregiving educat
Slide 24: Legislative review
— > SSS Legislative review INVESTORS.
Slide 25: Lawmakers seek greater benefit flexibility
Legislative review Lawmakers seek greater benefit flexibility ▪ On April 15, Representatives Greg Steube (R-FL) and Suzan DelBene (D-WA) introduced the Optimizing Participant Tax Incentives through Optional Noncash Selections Act, which would give employees more benefit flexibility ▪ The legislation
Slide 26: RISE act aims to expand plan adoption
Legislative review RISE act aims to expand plan adoption ▪ Bipartisan lawmakers introduced the Retirement Investment in Small Employers Act, designed to expand retirement plan access among small businesses by enhancing existing startup tax credits ▪ The bill would increase the minimum retirement pla
Slide 27: Congress revisits caregiver retirement security
Legislative review Congress revisits caregiver retirement security ▪ Bipartisan lawmakers have reintroduced two bills aimed at helping family caregivers maintain retirement savings momentum after reducing working hours ▪ The Improving Retirement Security for Family Caregivers Act would allow eligibl
Slide 28: Charity Parity Act introduced to expand charitable giving
Legislative review Charity Parity Act introduced to expand charitable giving ▪ Representatives Mike Kelly (R-PA) and Don Beyer (D-VA), along with Senators Kevin Cramer (R-ND) and Chris Coons (D-DE), introduced the Charity Parity Act to expand qualified charitable distribution (QCD) rules to workplac
Slide 29: Legislative review: Key takeaways
Legislative review: Key takeaways Consider charitable giving provisions that may enhance participant retirement strategies Monitor legislation expanding benefit flexibility and participant choice 29
Slide 30: Regulatory review
| il Regulatory review INVESTORS.
Slide 31: Reminder: Third quarter compliance calendar
Regulatory review Reminder: Third quarter compliance calendar July July cont. September July 29 July 31 September 15 ▪ Summary of material modifications (or ▪ Annual benefit statement for plans not ▪ Minimum funding contribution due for money updated summary plan description) to offering participant
Slide 32: Executive order seeks to expand retirement coverage
Regulatory review Executive order seeks to expand retirement coverage ▪ On April 30th, President Trump signed an executive order aimed at expanding retirement savings options for workers who do not have access to an employer-sponsored retirement plan ▪ The executive order directs the Treasury Depart
Slide 33: SEC issues informal pooled employer plan guidance
Regulatory review SEC issues informal pooled employer plan guidance ▪ The SEC issued staff guidance clarifying how Pooled Employer Plans (PEPs) may be treated under federal securities laws ▪ The SEC stated it would not object to qualifying ERISA-covered PEPs relying on the longstanding "single trust
Slide 34: DOL issues multiple Field Assistance Bulletins
Regulatory review DOL issues multiple Field Assistance Bulletins ▪ The Department of Labor recently issued two Field Assistance Bulletins (FABs) addressing ERISA enforcement practices and implementation of SECURE 2.0's paper benefit statement requirements ▪ FAB 2026-01 outlines new enforcement prior
Slide 35: Regulatory review: Key takeaways
Regulatory review: Key takeaways Evaluate whether PEPs and CITs can improve plan efficiency and participant outcomes Monitor federal efforts to expand retirement access for uncovered workers 35
Slide 36: Legal review
a Legal review INVESTORS.
Slide 37: ERISA litigation targets voluntary benefits programs
Legal review ERISA litigation targets voluntary benefits programs ▪ A new wave of ERISA litigation challenges the administration of employer-sponsored voluntary benefit programs ▪ In Haller et al. v. Banner Health, plaintiffs allege fiduciaries failed to prudently oversee carrier selection, broker c
Slide 38: CIT governance faces fiduciary scrutiny
Legal review CIT governance faces fiduciary scrutiny ▪ The Labor Department recently filed an ERISA lawsuit against the fiduciaries overseeing the $5 billion Hand Composite Employee Benefit Trust ▪ The complaint alleges fiduciaries failed to prudently select and monitor collective investment funds (
Slide 39: Sonic Automotive excessive fee case dismissed
Legal review Sonic Automotive excessive fee case dismissed ▪ On May 1, 2026, a federal court dismissed an excessive-fee and underperformance lawsuit against Sonic Automotive ▪ The complaint alleged fiduciaries retained higher-cost, lower-performing investments, failed to follow the plan’s investment
Slide 40: Aon faces underperformance suit
Legal review Aon faces underperformance suit ▪ Participants in the Aon Savings Plan filed a lawsuit alleging fiduciaries breached their duties by retaining two investment options that significantly underperformed comparable alternatives ▪ Plaintiffs contend the duration, consistency, and magnitude o
Slide 41: Legal review: Key takeaways
Legal review: Key takeaways Evaluate governance of voluntary benefit programs alongside retirement plans Help plan sponsors strengthen governance by documenting vendor due diligence, benchmarking fees and premiums, and reviewing outcomes regularly Clearly demonstrate that participant interest are be
Slide 42: Resources
Resources INVESTORS.
Slide 43: Specialist Consulting Group
Specialist Consulting Group Advisors at the center With more than 25 dedicated specialists and consultants, we strive to help you tackle challenges and implement solutions across key practice areas. At Janus Henderson, “world-class service” is more than a buzzword. It is central to our mission as a
Slide 44: Contact your DC specialist
Contact your DC specialist ERISA expertise, thorough knowledge of plan design and implementation, and partners in plan sponsor engagement Mountain States Central Taylor Pluss, CFP®, CRPS®, CDFA® Eric Magyar, CFP®, AIF® Defined Contribution Specialist Defined Contribution Specialist taylor.pluss@janu
Slide 45: About the author
About the author Joey Madigan Sr. Associate Retirement Director, Insurance and Retirement Group Joey Madigan is a Senior Associate Retirement Director at Janus Henderson. In this role, he assists and supports Sales Directors and Retirement Specialists in the field with all aspects of the defined con
Slide 46: Important information
Important information The information contained herein is for educational purposes only and should not be construed as financial, legal or tax advice. Circumstances may change over time so it may be appropriate to evaluate strategy with the assistance of a financial professional. Federal and state l
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