Report Encourages Adoption of Retirement Income Solutions

August 16, 2011 ( - The Institutional Retirement Income Council (IRIC), a non-profit think tank for the institutional retirement industry, has published a new issue brief detailing why it believes plan sponsor concern about an adverse employee reaction to retirement income products appears to be unfounded.

IRIC said it believes employees will actually welcome the introduction of retirement income products just as they have with other employer-driven retirement plan initiatives. It points out other employer-driven initiatives to influence retirement outcomes have been perceived very favorably by employees include automatic enrollment, automatic escalation, and automatic investment solutions.  

According to a press release, the issue brief notes these employer initiatives have resulted in positive outcomes – higher participation rates, higher investment levels – and have also been met with participant acceptance.      

“We feel strongly that there is every reason to assume that a similar level of participant acceptance would be extended to retirement income products. In fact, such employer activism might actually be welcomed,” said William Charyk, a partner at Arent Fox LLP, adviser to IRIC and author of the issue brief, in the announcement.   

To obtain a copy of the issue brief, “Retirement Income Products:  Will Employees Welcome or Resent This Form of Employer Activism,” visit