Helping participants have a reliable stream of income in retirement is an increasing concern of retirement plan sponsors. In this week’s news, we see that providers encourage plan sponsors to embrace lifetime income solutions, but many plan sponsors are still leary. In addition, research finds that current retirees are not spending what they are drawing down from financial accounts, suggesting a new focus for the sustainability of retirement savings. A new bill that would shore up Social Security for the future would also help with the retirement savings draw down question. Retirement plan participants say knowing how much they should have in their retirement plan today to ensure a financially secure retirement would motivate them to save more. All this and more in this edition of PLANSPONSOR Weekend.
The majority of defined contribution (DC) plan sponsors offering lifetime income solutions to participants prefer offering systematic withdrawals and education rather than guaranteed insurance-backed products.Read more >
Congressman Reid Ribble (R-Wisconsin) has introduced the Save Our Social Security Act in order to make Social Security solvent for another 75 years.Read more >
Only 38% of participants surveyed are very or extremely confident in their knowledge about how much to put into their 401(k) each year to be on track to reach their retirement goals.Read more >
“The DOL fiduciary rule impacts all qualified assets and will likely have a major impact on the rollover market,” says Matthew Drinkwater with LIMRA.Read more >
Share the good news with a friend! Pass the NewsDash along—and tell your friends/associates they can sign up for their own copy.Read more >
