IRIC Encourages Adoption of Retirement Income Solutions

The Institutional Retirement Income Council (IRIC) published an issue brief detailing why plan sponsor concerns about possible adverse reactions from employees to retirement income products appear to be unfounded.

IRIC, a non-profit think tank for the institutional retirement industry, believes employees will actually welcome the introduction of retirement income products as they have with other employer-driven retirement plan initiatives, such as automatic enrollment, automatic escalation, and automatic investment solutions. 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.

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