Week ending November 1st, 2019

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.

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In-Plan Guaranteed Income Will Always Be a Challenge

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. Read more >

Retirement Income Coming Soon to a 401(k) Near You

Experts believe that in the next few years, DC plan sponsors will embrace this option. Read more >

The Fundamentals of Retirement Income Products

Thanks to legislation such as the SECURE Act, new products and the need, the market is warming to guaranteed income. Read more >

Liquidity Buckets and Other Strategies to Protect Boomers’ Savings

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. Read more >

How Home Equity Can Fuel Retirement Income

The illiquidity of home equity can make retirement income planning difficult for those with much of their wealth concentrated in residential real estate. 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.

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.

Many Near-Retirees Don't Understand Social Security Benefits

More than one-third failed a basic Social Security quiz administered by MassMutual.

The Most Common Retirement Plan Testing Mistakes

By alerting plan sponsors to the issues they see most often, advisers can help their clients navigate IRS testing rules.

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