Happy Friday, readers! Retirement plan industry experts agree DC plans are well positioned to significantly add to Americans’ financial security by adopting retirement income solutions that are currently available in the market. So why aren’t in-plan guaranteed income solutions widely embraced? As explored in the articles below, a big part of the problem is fiduciary concern, but there are other hurdles having to do with excessive jargon and a lack of deep understanding among plan sponsors about exactly what the relevant regulations require.
There is clearly a growing interest among retirement plan industry stakeholders in providing guaranteed income annuity options within defined contribution plans, yet consensus remains elusive.
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Katherine Roy, chief retirement strategist at J.P. Morgan in New York, says avoiding withdrawals from equity portfolios when markets are down is a key to protecting wealth over time.
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The illiquidity of home equity can make retirement income planning difficult for those with much of their wealth concentrated in residential real estate.
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