Week ending April 5th, 2019

Happy Friday, readers! If you have been following the industry news this week, you’ll already know that there has been some significant action in Congress on retirement-focused legislation. Among the many provisions being considered in the SECURE Act and RESA is a new safe harbor to protect retirement plan fiduciaries when they offered in-plan guaranteed income products. Experts agree that plan sponsors often skip lifetime income products in plan menus because they are concerned about their own liability should the insurance provider fail to meet their payment obligations at some point in the future. You can read all about this evolving topic in the articles collected below.

Income in Retirement

RESA Is Back in the Senate, with Some Technical Amendments

A section-by-section overview of the Retirement Enhancement and Savings Act of 2019, which was just introduced in the U.S. Senate. Read more >

More Regulation Might Not Be Needed To Boost Use of DC Plan Lifetime Income

Experts suggest an additional annuity safe harbor regulation is unlikely and perhaps even unneeded for promoting greater use of in-plan lifetime income solutions, given that sponsors’ hesitation is often misplaced. Read more >

DC Plan Participants Looking for Guaranteed Income in Retirement

Eight in 10 DC plan participants are very or somewhat interested in an in-plan investment option that would guarantee monthly income for life in retirement, and the same number express interest in taking money out of their plan at retirement and moving it to a financial product that would guarantee them monthly income for life. Read more >

Guidance Issued for Including Annuities in TDFs

The Department of the Treasury and the Internal Revenue Service have issued guidance designed to expand the use of income annuities in 401(k) plans. Read more >

401(k) Plans Have Concerns About Guaranteed Income Products

Concerns expressed in a survey included fiduciary exposure, high costs and operational hurdles such as recordkeeping issues, among other things. Read more >

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Asset Managers Weigh In on DC Plan Investment Trends

They foresee growth in the use of CITs, retirement income products and ESG investments.

Moving From Words to Actions on Diversity, Equity and Inclusion

Adviser industry professionals tasked with addressing the serious lack of diversity and inclusion in their field say the events of the past few years have helped supercharge efforts to solve a longstanding problem.

The 2022 M&A Outlook: Bumper or Bust?

Experts foresee strong interest in retirement industry merger and acquisition deals continuing next year, but firms may have more difficulty securing top talent as the number of transactions mounts.

The 2022 Retirement Legislation Landscape Takes Shape

The SECURE Act became law at the very end of 2019, ushering in major changes for the retirement planning industry, and experts are again asking whether the close of 2021 could bring similar progress.

Succession Planning Marketplace Evolves

While plan advisers often discuss the importance of succession planning with plan participants or wealth management clients, they might need to follow their own advice when evaluating plans for their business.

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