PLANADVISER Weekend Newsdash
Week ending December 6th, 2019

Happy Friday, readers! 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. Collected below are some articles and research reports exploring the “decumulation challenge.” We hope you will share some of what you read with a client or colleague. 

Editor's choice
Ideas for a QDIA Design That Will Better Serve Participants Ready to Retire
Jason Shapiro notes that some DC plan participants may stay in their plan after retirement and rely on TDFs’ asset allocation for retirement income for possibly 30 years or even more. Read more >
The Pros and Cons of Rolling Money Over to an IRA
Experts see more value for participants to move their money from one 401(k) to another 401(k) than from a 401(k) to an individual retirement account. Read more >
Inheritance Pathways Exist to Replace Stretch IRAs
The SECURE Act is stalled in the U.S. Senate due in part to several lawmakers’ concerns that it does away with so-called “stretch IRAs,” but tax and inheritance experts say other effective tax mitigation strategies are available. Read more >
Need for Long-Term Care Insurance in Retirement Is Great
As the population ages, experts believe more companies will offer this voluntary benefit. Advisers who are educated about long-term care insurance can increase awareness for retirement plan sponsors and participants. 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 >
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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