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Wednesday, September 15th, 2021
A biweekly topical newsletter from PLANSPONSOR
Income in Retirement
A newsletter to inform defined contribution (DC) plan sponsors about strategies and tools to help participants create retirement income.
Data and Research
Not Having a Retirement Drawdown Strategy Can Affect Retirement Security
A survey finds a majority of retirees are using RMDs for ‘guidance’ about how to spend down their assets, but experts say this doesn’t support spending trends in retirement and doesn’t make the best use of their savings.
Social Security to Run Out of Money Sooner Than Previously Expected
To avoid depletion, payroll taxes will need to be increased, benefits cut or both, and waiting will mean larger changes will be necessary, the Social Security Board of Trustees warns in an annual report.
Data and Research
State and Local Government Workers’ Annuity Preferences
Virtually all state and local workers are offered a single- and joint-life annuity, while about 40% are offered a period certain annuity and about 30% can select a lump-sum option.
Deals and People
Industry Ripe for Development of Retirement Income Products and Solutions
David Blanchett, QMA’s newest managing director and head of retirement research, talks about the growing importance of retirement income solutions in DC plans and other investment menu considerations for plan sponsors.
Data and Research
DB Plans and Social Security Are Wealth Equalizers
A study finds the programs are substantial resources for Black and Hispanic families and adding them into wealth considerations lowers the racial wealth gap, which researchers say shows the importance of maintaining their fiscal health.
What DC Plan Participants Should Know About Their Own ‘Funded Status’
Plan sponsors can help participants understand how interest rates and inflation affect lifetime income disclosures to help them avoid panicking and prepare for retirement.
Data and Research
People Like ‘Guaranteed Income’ Over an ‘Annuity’
Not only does a name change increase the appeal of annuities, but framing them as insurance against running out of money in retirement does even more so.
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