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
House Committee Approves Bill Aimed at Increasing Retirement Plan Coverage

Among other things, the RISE Act would encourage retirement savings by allowing plan sponsors to offer small financial incentives to motivate employee participation.

Employees Don’t Want ‘All or Nothing’ When It Comes to Guaranteed Lifetime Income

Eighty-one percent of respondents to a survey indicate they are at least somewhat likely to prefer a retirement plan that substitutes guaranteed income for safe investments such as bonds.

TRIVIAL PURSUITS: Residents of the Island of Misfit Toys
December 17, 2013 (PLANSPONSOR.com) – Who/what were the residents on the Island of Misfit Toys in “Rudolf the Red-Nosed Reindeer?”
2021 Recordkeeping Survey
TRIVIAL PURSUITS: What do the M’s stand for in M&Ms?

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

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