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A Superior Collective Investment Trust Onboarding Experience.
A Superior Collective Investment Trust Onboarding Experience.
The rapid growth of Collective Investment Trusts (CITs) over the past decade has fundamentally transformed the landscape of retirement plan investing, steadily positioning CITs to drive continued innovation in the retirement investment landscape. Today, CITs hold over $6.3 trillion in assets across all retirement plans as of year-end 20241, as DC plans reached $14.2 trillion in total assets as of year-end 2025.2 CITs are now the most prevalent investment vehicle in defined contribution plans, holding approximately 4% more assets than mutual funds3, with 77% of DC plans using them.4
CITs’ appeal lies in lower fees, rigorous institutional oversight under strict and overlapping legal regimes, and significant investor protections — positioning them as a cost-effective alternative to mutual funds and the investment vehicle of choice for innovative retirement investment products.1 Industry analysts note that CITs’ lower costs, coupled with plan sponsors’ and other employer plan fiduciaries’ continued focus on cost-effective solutions that meet rigorous fiduciary standards, position them for ongoing growth in the retirement ecosystem, with assets projected to reach $9.2 trillion by 2029.1
This paper explores the transparency frameworks under which CITs operate. It underscores how transparency serves plan fiduciaries in meeting their responsibilities and supports participant decision-making. By highlighting the regulatory standards, technological advancements, industry best practices, and market adoption trends, this paper aims to close the recognition gap and position CITs accurately as the transparent, well-governed, and increasingly accessible investment options they have long been — and to ensure all stakeholders in the retirement planning process have the understanding they need to act on that reality
Sources
Great Gray Trust Company, LLC Collective Investment Funds (“Great Gray Funds”) are bank collective investment funds; they are not mutual funds. Great Gray Trust Company, LLC serves as the Trustee of the Great Gray Funds and maintains ultimate fiduciary authority over the management of, and investments made in, the Great Gray Funds. Great Gray Funds and their units are exempt from registration under the Investment Company Act of 1940 and the Securities Act of 1933, respectively.
Investments in the Great Gray Funds are not bank deposits or obligations of and are not insured or guaranteed by Great Gray Trust Company, LLC, any bank, the FDIC, the Federal Reserve, or any other governmental agency. The Great Gray Funds are commingled investment vehicles, and as such, the values of the underlying investments will rise and fall according to market activity; it is possible to lose money by investing in the Great Gray Funds.
Participation in Collective Investment Trust Funds is limited primarily to qualified retirement plans and certain state or local government plans and is not available to IRAs, health and welfare plans and, in certain cases, Keogh (H.R. 10) plans. Collective Investment Trust Funds may be suitable investments for plan fiduciaries seeking to construct a well-diversified retirement savings program. Investors should consider the investment objectives, risks, charges, and expenses of any pooled investment fund carefully before investing. The Additional Fund Information and Principal Risk Definitions (PRD) contains this and other information about a Collective Investment Trust Fund and is available at www.greatgray.com/cit-fund-info/principal-risk-definitions/ or ask for a free copy by contacting Great Gray Trust Company, LLC at (866) 427-6885.
Great Gray® and Great Gray Trust Company are service marks used in connection with various fiduciary and non-fiduciary services offered by Great Gray Trust Company, LLC.