PLANADVISER Weekend Newsdash
Week ending June 29th, 2018

Happy Friday! Regular readers of the PLANADVISER website, newsletter and magazine will already know about the DC decumulation challenge—the broad and pressing question of how to help defined contribution plan participants make the most of their accumulated assets. But they may not have read about all the different ways established and emerging service providers are tackling the issue. As you will lean from the articles and research reports presented below, there are exciting new approaches and strategies coming online to help retiring participants control the drawing down of their DC plan assets. These include tax management solutions, Social Security optimization, new types of annuities and income insurance, and much more. We hope you share some of what you learn with a client or colleague.

Retirement Income and Rollovers
Considerations for Helping Terminating and Retiring Participants
“If a plan sponsor can invest in an adviser or other person to provide direction for terminating or retiring employees, that would be extremely helpful,” Terry Dunne, from Millennium Trust Company, told 2018 PLANSPONSOR National Conference attendees. Read more >
More Regulation Might Not Be Needed To Boost Use of DC Plan Lifetime Income
Experts suggest an additional annuity safe harbor regulation is unlikely and perhaps even unneeded for promoting greater use of in-plan lifetime income solutions, given that sponsors’ hesitation is often misplaced. Read more >
DC Plan Industry Still Falls Short on Distribution Options
Looking across today’s DC plan marketplace, researchers suggest it is still much more common to see plan designs that are tailored to drive retired or terminated participants out of the plan. Read more >
Prudent Default Can Include Lifetime Income Elements: DOL
In an information letter to Christopher Spence, senior director, Federal Government Relations at TIAA, the Department of Labor says a defined contribution plan could prudently choose a default investment for the plan that contains lifetime income elements. Read more >
Guidance Issued for Including Annuities in TDFs
The Department of the Treasury and the Internal Revenue Service have issued guidance designed to expand the use of income annuities in 401(k) plans. Read more >
Don’t Run Out of Money, Have a Retirement Income Plan
In a guest article written for PLANADVISER, Thomas Dodd, executive director of Pavilion Advisory Group Inc., compares and contrasts common retirement income strategies—including the pros and cons of each method, as viewed from the perspective of participants. Read more >
Social Security Uncertainty Must Inspire Concerted Action
Commenting on new Social Security deficit projection figures published this week, Rob Fishbein, corporate counsel at Prudential Financial, says it’s not time to hit the panic button yet—but it is time to take very seriously the retirement income challenge individuals face. Read more >
The PLANADVISER Product Launch Archive
Looking back over years of product announcements can be surprisingly interesting and informative. Whether it’s the forlorn arch of the DOL fiduciary rule or the steady evolution in target-date funds, there’s a lot to take in. Read more >
MOST POPULAR STORIES
RIA Aggregators Aim for Small-Plan Market Expansion

OneDigital and Ascensus recently announced the availability of a ‘co-created small market solution,’ making OneDigital the latest adviser aggregator to launch a DC plan solution targeted at small businesses.

‘Secure Act 2.0’ Likely to Become a Reality

Retirement Plan Execs Confident Senate Will Pass the Bill Into Law

10th Circuit Affirms Great-West Fee Suit Dismissal

The district court ruling in the case, now backed by an appeals court, stands out for having been filed alongside a sanction declaring the plaintiff’s law firm Schlichter Bogard & Denton behaved “recklessly.”

T. Rowe Price CEO Change Reflects Financial Industry Trends

During a conference call held to discuss the pending retirement of Bill Stromberg, CEO of T. Rowe Price, leaders at the firm highlighted the growing importance of socially responsible investing and the need to improve diversity and inclusion in financial services.

The Future of Health Care—and What It Means for Retirement Planning

As health care costs rise, there is more overlap than ever between health decisions and financial decisions. So much is obvious to forward-thinking financial advisers, but what is less clear is where health care itself is heading in the 21st century.

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