PLANADVISER Weekend Newsdash
Week ending January 4th, 2019

Happy Friday, readers! It’s a common saying in the retirement plan industry that the back-end of the savings effort (i.e., spending down accumulated assets in a sustainable and efficient way) is far more complicated than the accumulation effort. This is because plan participants all have different longevity expectations, different beliefs about how they would like to live in retirement, and different conclusions about how to weigh longevity risk versus the risk of under-consumption. Making matters even more difficult, survey data shows that plan sponsors are not necessarily thinking strictly about annuities when contemplating the addition of an in-plan retirement income option. Despite this, recordkeepers and asset managers most commonly point to an annuity-based product as being top-of-mind for plan sponsor clients. Will 2019 deliver greater clarity on this vexing topic?

Income in Retirement
Advisers, Providers and Sponsors View In-Plan Income Differently
According to Cerulli research, the various parties involved in the implementation of an in-plan retirement income solution are often not on the same page about basic terminology and definitions. Read more >
Treasury Calls for More In-Plan Lifetime Retirement Income Products
The department believes an oversight bureau, created to assess the financial strength of annuity providers, would help employers and advisers become more comfortable including annuities in retirement plans. Read more >
Advisers Play a Key Role in Estimating Monthly Income in Retirement
Nearly all of those who work with an adviser feel they have prepared themselves well for estimating their monthly income needs in retirement, Voya Financial learned in a survey. Read more >
SEC Considers New Annuity and Life Insurance Summary Disclosures
The proposal is intended to help investors better understand these contracts’ features, fees and risks, and to more easily find the information needed to make an informed investment decision. Read more >
Experts Probe Potential Signs of Variable Annuity Sales Recovery
Variable annuities continue to face challenges in the wake of transaction processing disruptions caused by the now-vacated DOL fiduciary rule; however, experts anticipate sales to recover as business processes normalize and newer product types come to market. Read more >
Exploring How Sponsors Can Offer Guaranteed Lifetime Income
One option is through a profit sharing plan that invests the money in an annuity once a participant retires. Read more >
MOST POPULAR STORIES
Plaintiffs Claim Deloitte Breached ERISA Prudence Duties

Arguments in the new case closely resemble previous lawsuits filed against other firms citing the ERISA fiduciary duties of prudence and of monitoring fiduciaries.

Only 31% of Hispanic Workers Participate in a Workplace Retirement Plan

Morningstar says there are several factors besides lower income that could contribute to the lower savings relative to other demographic groups.

TIAA Faces New Managed Account Rollover Complaint Months After Settling SEC Charges

A new lawsuit suggests the individual advisory program TIAA clients were rolled into was significantly more expensive and generated hundreds of millions of dollars in fees for TIAA—without providing commensurate performance benefits.

A Year of Disruption Spotlights Tech, Cybersecurity

Advisers are increasingly focused on Social Security marketing, technology that can deliver investment personalization, and cybersecurity.  

Well-Funded HSAs Are a Retirement 'Superpower'

Having an HSA going into retirement is ‘incredibly powerful,’ experts say, because money is being saved and spent as efficiently as possible.

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