PLANSPONSOR Weekend Newsdash
Week ending August 16th, 2019
As we’ve entered the era of Baby Boomers retiring, the retirement plan industry is focused more now on decumulating assets. Plan sponsors need to understand their options for offering the right plan design and tools to help participants draw down their assets in retirement, and plan participants need education about how to use the tools to establish an income stream. This edition of PLANSPONSOR Weekend is focused on decumulation strategies.
Editor's choice
Administration
Plan Distribution Behavior Dictated By Plan Design
New DCIIA research put together in concert with a large group of retirement industry service providers highlights the crucial role plan design plays in terms of participants’ decumulation decisions.Read more >
Administration
A Retirement Draw Down Strategy Starts With Education
Plan sponsors need to give participants the education and tools they need to develop a strategy for spending assets in retirement.Read more >
Participants
A Lack of Retirement Income Guidance Harms Participants
Defined contribution plan participants are unlikely to feel confidence about retiring when they receive no retirement income projections and no help defining discretionary versus required expenses.Read more >
Participants
Cerulli: Participants Are ‘Generally Clueless’ About DC Plan Decumulation
A new Cerulli Associates survey suggests that at least half of 401(k) plan participants have no idea what to do with the savings they have diligently set aside for retirement.Read more >
Compliance
Council Makes Recommendations for Including Lifetime Income Options in QDIAs
The ERISA Advisory Council’s recommendations to the Department of Labor (DOL) include publishing guidance confirming that a named plan fiduciary may appoint a 3(38) investment manager to select and monitor annuity and other lifetime income providers, as well as modifying qualified default investment alternative (QDIA) regulations.Read more >
Products
TIAA Enhances Customers’ View of Retirement Income
According to Lori Dickerson Fouché, with TIAA, “The enhanced Retirement Profile tool shows TIAA annuity customers how the combination of lifetime income—such as fixed and variable annuities, Social Security or pensions—and systematic withdrawals have the potential to yield a steady and guaranteed retirement paycheck.”Read more >
MOST POPULAR STORIES
Heroes Act Now In the Hands of a Skeptical Senate

The Heroes Act, passed by a narrow majority in the House, includes union pension partition relief and a waiver for the reinvestment of 2019 and 2020 RMDs.

Final Electronic Disclosure Rule Published by DOL

The leadership at the regulator says this measure will reduce printing, mailing and related plan costs by an estimated $3.2 billion over the next decade.

Share Class Issues Cited in ManTech ERISA Lawsuit

The new complaint closely resembles others that have been filed by the Capozzi Adler P.C. law firm.

Employers Are Beefing Up Financial Wellness Programs

The coronavirus pandemic has exposed workers’ need for financial coaching and for employers to offer resources.

Advancing DC Plan Design
Many features are working to help DC plan participants grow their savings, so it’s time to look at investments for the next element of design evolution.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: advertise@strategic-i.com

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