Wednesday, May 15th, 2024 A topical newsletter from PLANSPONSOR Income in Retirement Information for plan sponsors about income in retirement. SPONSORED AD Products AllianceBernstein Expands Access to Secure Income Portfolio Plan sponsors can access the AllianceBernstein Secure Income Portfolio. Products BlackRock’s LifePath Paycheck Now Live for DC Plans Fourteen plan sponsors have already signed on to offer the guaranteed income product, which functions like a target-date fund, to their employees.  Benefits Behind the Decision: Why Avangrid Added BlackRock LifePath Paycheck to Its 401(k) Connecticut-based energy company Avangrid is among the first plan sponsors to implement BlackRock’s LifePath Paycheck. Data and Research ‘Peak Age’ Boomers Face Retirement Shortfall The current crop of 65-year-old Boomers, particularly among women and those without higher degrees, will struggle to maintain a working lifestyle, according to the Alliance for Lifetime Income. Data and Research MetLife Poll Shows Increased Demand for QLACs to be Offered In-Plan Plan sponsors are expressing interest in qualified longevity annuity contracts as a way help participants protect against longevity risk and inflation. Administration Empower Partners With Variety of Firms to Pair Guaranteed-Income Products With Advice Empower is working with asset managers and insurance companies to launch a new lineup of products to convert savings into retirement income. Did someone forward you this newsletter? Sign up here to get PLANSPONSOR Spotlight directly in your mailbox!

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