PLANADVISER Weekend Newsdash
Week ending September 6th, 2019

Solving the retirement income challenge is so difficult because plan participants all have different longevity expectations, different beliefs about how they would like to live in retirement, and different conclusions about how to weigh longevity risk versus the risk of under-consumption. Making matters even more difficult, survey data shows that plan sponsors are not necessarily thinking strictly about annuities when contemplating the addition of an in-plan retirement income option.

The Decumulation Challenge
Annuities Are Potentially More Useful Today Than Ever
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. Read more >
A New Normal? Time To Recheck Interest Rate Assumptions
Among the remarkable characteristics of today’s global fixed-income marketplace is the $15 trillion invested in negatively yielding bonds. Read more >
Addressing Participant Longevity
Plan design and advice will both be key as retirees aim for age 100. Read more >
Rollover Mechanics and the Most Common Mistakes
Besides failing to invest the money within the IRS’s 60-day window—the most common mistake according to the experts—another frequent error impacts those who cash out of their workplace retirement plan. Read more >
A Crash Course in Social Security Maximization
Cost of living increases, claiming age, marital status and work history all complicate Social Security claiming strategies. 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.

Practice Management: Areas of Success

A look at what worked particularly well in 2020 and that could keep propelling growth in 2021.

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.
Lockton and Norton Healthcare Agree to Pay $5.75M ERISA Settlement

A newly filed settlement agreement stipulates that Norton Healthcare and Lockton will each pay half of a total settlement of $5.75 million, which will be used to compensate plan participants who invested in overly expensive share classes.

SEC Chair Nominee Gensler Faces Senate Scrutiny Tuesday

In his prepared remarks, Gary Gensler calls the U.S. securities markets the ‘finest in the world,’ while emphasizing the need for ‘clear rules of the road and a cop on the beat to enforce them.’

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