PLANADVISER Weekend Newsdash
Week ending August 31st, 2018

Happy Friday, readers! This weekend’s mailing focuses on the challenging and timely topics of Retirement Income and Rollovers. Advisers with a significant book of defined contribution plan business will already be familiar with the difficulty of helping clients transition a lump sum distribution into a lifelong paycheck. 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.

Editor's choice
DC Plan Industry Still Falls Short on Distribution Options
Looking across today’s DC plan marketplace, researchers suggest it is still much more common to see plan designs that are tailored to drive retired or terminated participants out of the plan. Read more >
Considerations for Helping Terminating and Retiring Participants
“If a plan sponsor can invest in an adviser or other person to provide direction for terminating or retiring employees, that would be extremely helpful,” Terry Dunne, from Millennium Trust Company, told 2018 PLANSPONSOR National Conference attendees. Read more >
Participants Speak Clearly About Need for DC Account Income Planning
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. Read more >
Retirees Cite Decline in Income as Reason for Bankruptcies
The risks associated with aging, reduced income, and increased health care costs have been offloaded onto older individuals, while at the same time, older Americans are increasingly likely to file for bankruptcy, according to a paper by researchers from different universities. Read more >
Health Care Costs Remain Retirement Planning Blind Spot
According to a new survey, 76% of employees say they understand the salient features of health savings accounts, or “HSAs,” yet only 12% could correctly identify the common attributes of an HSA in a simple quiz. Read more >
MOST POPULAR STORIES
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.

DOL Announces Anticipated ESG Fiduciary Investing Rule

Agency leaders say the principal idea of the new proposal is that climate change and other ESG factors can be financially material and, when they are, considering them will inevitably lead to better long-term risk-adjusted returns.

Social Security Benefits Will Grow 5.9% in 2022 Amid Renewed Inflation Concerns

The important federal benefit increases when the cost of living rises, as measured by the Department of Labor’s Consumer Price Index for Urban Wage Earners and Clerical Workers, or the ‘CPI-W.’

Retirement Industry People Moves

Impax appoints Ed Farrington as head of distribution for North America; Prudential forms new Prudential Retirement Strategies business; Northern Trust appoints Gary Paulin as head of global strategic solutions; and more.

Calmer Summer Yields to Volatile Fall for U.S. Investors

Individual and institutional investors were feeling better about market risks before getting a Delta-driven reality check.

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