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| ‘Decumulation Challenge’ May Drive Next-Gen Digital Advice |
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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.
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| Annuities Are Potentially More Useful Today Than Ever |
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Anxiety about turning DC plan assets into a “lifetime retirement paycheck” in such a low-rate environment is keeping aging Americans in the workforce—including many who very likely have enough money saved to retire comfortably and don’t want to keep working.
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| A Crash Course in Social Security Maximization |
| Cost of living increases, claiming age, marital status and work history all complicate Social Security claiming strategies.
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| DC Plan Jargon Stymies Participant Success |
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The term “glide path” resonated with only 4% of participants surveyed by Invesco, despite being the most common term used by advisers, providers and plan sponsors when talking about target-date funds; survey data shows numerous other areas where industry jargon holds back participant understanding.
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| Participants Speak Clearly About Need for DC Account Income Planning |
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A new report published by Cerulli Associates draws out participant perspectives on the topic of DC plan decumulation, revealing that many of those leaving the work force feel “generally clueless” about how to manage their nest egg.
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| For Retirement Security, Cast a Wide (and Cost-Efficient) Net |
| Only 2% of small business decisionmakers told Millennium Trust that they would be willing to pay an adviser more than $1,000 annually, writes Kevin Boyles, business development director for the firm.
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