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week ending October 16th, 2020
Provisions in the Setting Every Community Up for Retirement Enhancement (SECURE) Act aim to relieve retirement plan sponsors’ concerns about including guaranteed income options, specifically annuities, in their defined contribution (DC) plan designs. Educating plan sponsors about annuity options and helping them know how to educate their participants is an important first step in increasing annuity offerings in plans. Plan sponsors need to understand their choices and responsibilities and understand what to consider before implementing guaranteed income solutions in their plans. This edition of PLANSPONSOR Weekend includes articles that will aid in this understanding. Have a great weekend and please be safe.
Editor's Choice
Opinions
Retirement Income: Spotlight on Annuities
Peg Knox, with the Defined Contribution Institutional Investment Association (DCIIA), discusses what plan sponsors should consider before implementing an income solution.
Administration
PSNC 2020: Duties With Regard to Annuities
The momentum for offering annuities to DC plan participants is growing, and plan sponsors need to know their responsibilities and choices.
Investing
Getting Portability Right Key to Annuities in DC Plans
Confidence exists that insurers will come up with solutions to address the possibility that plan sponsors may at some point make provider changes.
Investing
Painful Market Losses Help Paint Annuities in Positive Light
This significant bout of negative market volatility, coming as it does on the heels of the passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act, presents an important learning opportunity about the role of annuities.
Administration
The Future for Annuities in DC Plans
The SECURE Act offered an annuity selection safe harbor for plan sponsors, but education will be the first step in getting this income protection to plan participants.
Popular Reads
Deals and People
Empower to Acquire Prudential's Full-Service Retirement Business
The company says it expects the acquisition to benefit retirement plan participants, and, by leveraging new capabilities from its 2020 acquisition of Personal Capital, it will offer a personalized digital experience 
2020 Recordkeeping Survey
Benefits
Giving Employees the Financial Wellness Help They Want
Offering an array of benefits—addressing both physical and financial wellness—and implementing personalized experiences will set employees up with what they need.
Deals and People
Prudential Acquisition Aimed at Improving Participant Experience
Empower CEO Ed Murphy says the Prudential recordkeeping team has tremendous bench strength.
Data and Research
Factors That Can Cut the Cost of Fiduciary Liability Insurance
An Aon survey of insurers revealed risks they look for that affect insurability and pricing, but good governance practices have been a key factor for years.
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