PLANADVISER Weekend Newsdash
Week ending February 1st, 2019

Happy Friday, readers! Spend even a little time working in the retirement plan services industry and one will see that complexity is an inherent characteristic of the marketplace. This is particularly true when it comes to solving the “decumulation challenge.” Simply put, helping plan participants turn a lump sum of cash savings into a sustainable retirement income stream is hard. Participants want the safety of a guarantee, but they fear the lack of liquidity associated with annuitization. Fortunately, new products and strategies are emerging that may help participants access the income protection they want while also providing a greater degree of flexibility.

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 >
Employers Must Act Ahead of Retirement Wave
According to Willis Towers Watson, just over 80% of organizations acknowledge the importance of their older workers and managing the retirement process; however, only about half believe they understand the process well, and just one-quarter feel they have found an effective approach. 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 >
AARP Tackles Social Security Misinformation
As retirees drawing Social Security income look forward to a modest increase in benefits scheduled for 2019, AARP has published a list of common Social Security misconceptions. Read more >
Advisers Should Consider Unpredictable Retirement Age in Client Retirement Planning
Morningstar suggests individuals and their advisers should focus on strategies that can maximize retirement savings, regardless of planned retirement age. Read more >
‘Decumulation Challenge’ May Drive Next-Gen Digital Advice
CFB Board sees decumulation as a likely driver of digital advice innovation, especially as an aging population creates a need for more efficient and effective services. Read more >
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TOP 100 Retirement Plan Advisers
Noteworthy retirement plan specialists, based on number of plans and total assets under advisement.
What Is a DOL Adviser Investigation Like?
The number of Department of Labor investigations of financial advisers has steadily increased over the years; here is a primer on the DOL’s sources of authority, and what to expect when examiners come knocking.
Managed Account QDIA Mechanics Challenge Plan Sponsor Clients
ERISA attorneys and plan design consultants say they are hearing more questions from sponsors about using managed accounts as a plan’s default investment, but the most common use case remains opt-in managed accounts.
Court Returns Mixed Ruling in Schwab ERISA Self-Dealing Suit

The detailed ruling comes after Schwab defendants moved to dismiss in part the plaintiff’s second amended complaint. 

Americans Worry About Running Out of Money in Retirement

CPA financial planners say Americans are also concerned about maintaining their lifestyle and not being able to meet rising health care costs.

Editorial: Alison Cooke Mintzer alison.mintzer@strategic-i.com

Advertising: Paul Zampitella paul.zampitella@strategic-i.com

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