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The Morningstar Center for Retirement & Policy Studies

Research

The Center delivers its findings and analyses through several different mediums, including in-depth reports, white-papers, issue briefs, and comment letters to regulators. These letters leverage our research in the service of helping improve public policy for ordinary investors.


Featured Research


Retirement Plan Landscape Report



Aron Szapiro, Center for Retirement & Policy Studies




White Papers


Should We Have More Annuities? Tackling Obstacles on the Path to Retirement Security

Jasmin Sethi, Morningstar Inc.




Expanding the Savers Credit




Lia Mitchell, Center for Retirement & Policy Studies




Baby Bond: Income-Based Program Designs Show Promise for Closing the Racial Wealth Gap

Lia Mitchell and Aron Szapiro, Center for Retirement & Policy Studies




Paperwork or Panacea: As PEPs Come of Age, What Can Their Forebearers Tell us About how They Will Work?

Lia Mitchell, Center for Retirement & Policy Studies





CITs: A Welcome Addition to 403(b) Plans


Jasim Sethi, Morningstar Inc.
Lia Mitchell and Aron Szapiro, Center for Retirement & Policy Studies



Bridging the Investing Gap: Why Refreshing Policy Can Help All Americans Build Their Financial Futures

Aron Szapiro, Center for Retirement & Policy Studies




Retirement Plan Transparency: Opaque Data Hinders Best-Interest Advice


Aron Szapiro and Lia Mitchell, Center for Retirement & Policy Studies



Small Employers, Big Responsibilities

Aron Szapiro, Center for Retirement & Policy Studies
John Rekenthaler and Jake Spiegel, Morningstar Inc.


Background on Recent State Efforts to Cover Private-Sector Workers



Aron Szapiro, Center for Retirement & Policy Studies



Issue Briefs


Retirement Plan Landscape Report



Aron Szapiro and Lia Mitchell, Center for Retirement & Policy Studies




Commentary

Title
Author
Date
A New Bill Would Require Automatic 401(k) Plan Enrollment
Aron Szapiro
April 20, 2022
Does Investing in ESG Hurt Pension Plans?
Aron Szapiro
March 16, 2022

Comment Letters

Title
Date
Agency
Improving Retirement Security and Access to Mental Health Benefits
March 1, 2022
Health, Employment, Labor, and Pensions Subcommittee
Reporting of Securities Loans
January 7, 2022
Securities and Exchange Commission
Proposed Revision of Annual Information Return/Reports
November 1, 2021
Employee Benefits Security Administration, Department of Labor
Broker-Dealer and Investment Adviser Digital Engagement Practices, Related Tools and Methods, and Regulatory Considerations and Potential Approaches; Investment Adviser Use of Technology to Develop and Provide Investment Advice
October 1, 2021
Securities and Exchange Commission
Public Input Welcomed on Climate Change Disclosures
June 9, 2021
Securities and Exchange Commission
Tailored Shareholder Reports, Treatment of Annual Prospectus Updates for Existing Investors, and Improved Fee and Risk Disclosure for Mutual Funds and Exchange-Traded Funds; Fee Information in Investment Company Advertisements
January 4, 2021
Securities and Exchange Commission
Listing Rules Related to Board Diversity
December 22, 2020
Securities and Exchange Commission
Fiduciary Duties Regarding Proxy Voting and Shareholder Rights
October 2, 2020
Employee Benefits Security Administration, Department of Labor
Reporting Threshold for Institutional Investment Managers
Setember 29, 2020
Securities and Exchange Commission
Improving Investment Advice for Workers & Retirees
August 6, 2020
Employee Benefits Security Administration, Department of Labor
Financial Factors in Selecting Plan
July 30, 2020
Employee Benefits Security Administration, Department of Labor
Prohibited Transactions Involving Pooled Employer Plans Under the SECURE Act and Other Multiple Employer Plans
July 20, 2020
Employee Benefits Security Administration, Department of Labor
Failing Retirement Savers: Examining Three Recent Labor Department Actions
July 16, 2020
Education & Labor Committee
Facilitating Capital Formation and Expanding Investment Opportunities by Improving Access to Capital in Private Markets
June 1, 2020
Securities and Exchange Commission
Eliminating Misleading Fund Names
May 5, 2020
Securities and Exchange Commission
Use of Derivatives by Registered Investment Companies and Business Development Companies
March 24, 2020
Securities and Exchange Commission
Amending the "Accredited Investor" Definition
March 16, 2020
Securities and Exchange Commission
Procedural Requirements and Resubmission Thresholds under Exchange Act Rule 14a-8
February 3, 2020
Securities and Exchange Commission
Concept Release on Harmonization of Securities Offering Exemptions
September 24, 2019
Securities and Exchange Commission
Fund of Funds Arrangements
May 2, 2019
Securities and Exchange Commission
Earnings Releases and Quarterly Reports
March 21, 2019
Securities and Exchange Commission
Competition and Consumer Protection in the 21st Century (Common Ownership)
January 15, 2019
Federal Trade Commission
SEC Staff Roundtable on the Proxy Process
December 17, 2018
Securities and Exchange Commission
Exchange-Traded Funds Proposal
October 1, 2018
Securities and Exchange Commission
Regulation Best Interest
August 7, 2018
Securities and Exchange Commission
Form CRS Relationship Summary; Amendments to the Form ADV; Required Disclosures in Retail communications and Restrictions on the use of Certain Names or Titles
August 7, 2018
Securities and Exchange Commission
FAST Act Modernization and Simplification of Regulation S-K
December 27, 2017
Securities and Exchange Commission
Request for Information Regarding the Fiduciary Rule and Prohibited Transaction Exemptions (RIN 1210-AB82)
August 3, 2017
Employee Benefits Security Administration, Department of Labor
XBRL Filing of Tagged Data
May 6, 2017
Securities and Exchange Commission
Fiduciary Rule Examination (RIN 1210-AB79)
April 13, 2017
Employee Benefits Security Administration, Department of Labor
Proposed Revision of Annual Information Return/Reports (Form 5500; RIN 1210-AB63)
December 2, 2016
Employee Benefits Security Administration, Department of Labor
Closing the Gap: Innovations to Promote Americans’ Financial Security
June 15, 2016
United States Senate: Subcommittee on Aging
Transfer Agent Regulations (File No. S7-27-15)
April 14, 2016
Securities and Exchange Commission
Open-End Fund Liquidity Risk Management Programs (File No. S7-16-15)
January 13, 2016
Securities and Exchange Commission
Investment Company Reporting Modernization (Release No. IA-4091; File No. S7-09-15)
August 21, 2015
Securities and Exchange Commission
Investment Advisers Act Rules (RIN 3235-AL75)
August 12, 2015
Securities and Exchange Commission
Use of Derivatives by Registered Investment Companies and Business Development Companies (Release No. IC-31933; File No. S7-24-15)
March 28, 2015
Securities and Exchange Commission
Title
Date
Agency
APRA's Superannuation Data Transformation
December 21, 2020
Cross-Industry Insights and Data Division, Australian Prudential Regulatory Authority
Development of the Framework for Comprehensive Income Products for Retirement (CIPR)
June 22, 2017
Retirement Income Policy Division, The Treasury
Financial System Inquiry, Interim Report
August 26, 2014
The Treasury
Title
Date
Agency
Consultation Climate-related Disclosure Update and CSA Notice and Request for Comment Proposed National Instrument 51-107 Disclosure of Climate-related Matters
February 14, 2022
Canadian Securities Administartor
CFR conforming changes to MSN-0069 (Suitability)
August 20, 2021
Mutual Fund Dealers Association of Canada
Know-your-client and suitability determination for retail clients
August 20, 2021
Investment Industry Regulatory Organization of Canada
Consultation on Modernizing Ontario's Capital Markets
September 7, 2020
Ontario Securities Commission, Capital Markets Modernization Taskforce
Restrictions on the use of the deferred sales charge option for mutual funds
June 1, 2020
Ontario Securities Commission
Consultation on the Option of Discontinuing Embedded Commissions
June 5, 2017
Canadian Securities Administrators
CSA Mutual Fund Risk Classification Methodology for Use in Fund Facts and ETF Facts
March 12, 2014
Canadian Securities Administrators
CSA Mutual Fund Fees
April 12, 2013
Canadian Securities Administrators
Title
Date
Agency
EC Platform on Sustainable Finance: Taxonomy Report
September 24, 2021
European Commission
Taxonomy Draft Delegated Regulation
June 2, 2021
European Commission
Advice to European Commission Under Article 8 of the Taxonomy Regulation
December 4, 2020
European Securities and Market Authority
Targeted consultation on the establishment of an EU Green Bond Standard
October 2, 2020
European Commission, Financial Stability, Financial Services and Capital Markets Union
Joint Consultation Paper Concerning ESG Disclosures
September 1, 2020
European Supervisory Authorities
Consultation on the Renewed Sustainable Finance Strategy
July 15, 2020
European Commission, Financial Stability, Financial Services and Capital Markets Union
Revision of the Non-Financial Reporting Directive
June 10, 2020
European Commission, Banking and Finance
Title
Date
Agency
ESG Ratings and Data Product Providers
September 6, 2021
IOSCO
Recommendations on Sustainability practices, policies, procedures and disclosure in Asset Mgt
August 15, 2021
IOSCO
Consultation on Proposed Climate-related Metrics, Targets, and Transition Plan Guidance
July 16, 2021
Task Force on Climate-Related Financial Disclosures
Standards-Setting of Sustainability Reporting
December 22, 2020
IFRS Foundation
Title
Date
Agency
Management and Disclosure of Climate Risks by Fund Managers
January 15, 2021
Securities and Futures Commission
Proposed Amendments to the Code on Unit Trusts and Mutual Funds
March 7, 2018
Securities and Futures Commission
Proposed Guidelines on Online Distribution and Advisory Platforms
August 4, 2017
Securities and Futures Commission
MFP Investment Solutions Consultation
November 26, 2014
MPF Schemes Authority
Title
Date
Agency
SEBI Investment Advisors Regulation, SEBI Research Analysts Regulation
July 31, 2017
Securities and Exchange Board of India
Title
Date
Agency
Driving Value for Money in Defined Contribution Pensions
December 20, 2021
Financial Conduct Authority and The Pensions Regulator
Enhancing climate-related disclosures by asset managers, life insurers, and FCA-regulated pension providers
September 10, 2021
Financial Conduct Authority
Enhancing climate-related disclosures by standard listed companies and views on Green Bonds and ESG Ratings Providers
September 10, 2021
Financial Conduct Authority
Changes to UK MIFID’s conduct and organisational requirements for Independent Equity Research
June 23, 2021
Financial Conduct Authority
Accessing and Using Wholesale Data
January 7, 2021
Financial Conduct Authority
PRIIPS Regulation Call for Information
September 28, 2018
Financial Conduct Authority
Further Remedies - Asset Management Study
July 5, 2018
Financial Conduct Authority

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