PLANADVISER Weekend Newsdash
Week ending June 21st, 2019

The retirement planning challenges facing workers today are by no means new or novel, nor are the many different types of solutions being debated by academics and policymakers. Find below a recent story on the topic of “modern tontines,” and why these might be a helpful model for DC plan decumulation. We hope you will share some of what you learn with a client or colleague. 

Income in Retirement
'Modern Tontine Theorists' Have Ideas for DC Plan Decumulation
Tontines are a type of historical annuity structure that was first put into well-documented practice as far back as the 1600s. Read more >
Rollovers Important to Retirement Income Adequacy
EBRI found a significant difference in retirement deficits when comparing the current environment where defined contribution plan participants rollover their assets versus a hypothetical state where workers never rollover their DC assets. Read more >
Advisers Should Include Guaranteed Income in Income Strategy Discussions
A study by Greenwald & Associates and CANNEX shows those close to retirement highly value guaranteed income to supplement Social Security, and suggests advisers consistently underestimate clients’ interest. Read more >
Fixed Annuity Sales Jumped in First Quarter
Sales of fixed annuities increased 38% during the first quarter of 2019 relative to the same period last year, according to the LIMRA Secure Retirement Institute. Read more >
Compare and Contrast: Income Annuities and Savings Contracts
Based on the results of a new CANNEX study, advisers who are looking to provide clients with guaranteed income should seriously consider both income annuities and savings annuity contracts that offer GLWBs. Read more >
MOST POPULAR STORIES
Stimulus Bill Extends Some Provisions of the CARES Act

It also provides a way for retirement plan sponsors to avoid a partial plan termination.

Coronavirus Hardship Withdrawals, Taxes and Your Retirement Plan Clients
Coronavirus-related withdrawals made in 2020 were a financial lifeline for some, but they could also turn into a major tax headache for others.
Once They Catch On, PEPs Could Grow Exponentially
The current hesitancy over how they will take shape will be overcome by appreciation among advisers and sponsors alike at the prospect of expanding retirement coverage, sources say.
Lawsuit Challenges Fees in Kimberly-Clark's 401(k) Plan

The plaintiffs allege plan fiduciaries used what it calls ‘cobbled-together services from many providers’ and didn't monitor fees for any of them.

Warn Your Clients: Don’t Abuse Coronavirus Hardship Withdrawals
Though retirement plans can allow individuals to self-certify that they qualify for a penalty-free coronavirus-related distribution, should the IRS discover otherwise during a future audit, a participant can be subject to substantial penalties.
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