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.
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.
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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.
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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.
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.
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.