PLANADVISER Weekend Newsdash
Week ending October 4th, 2019

Retirement income is increasingly on the minds of plan sponsors, so it is a topic that advisers need to at least begin to explore. It certainly was a big topic at our recent PLANADVISER National Conference. Some experts think that within the next few years, sponsors will begin to embrace retirement income options. The Transamerica Center for Retirement Studies thinks that at least part of the solution is permitting people age 65 and older to phase into retirement. At the very least, advisers should suggest that plans amend their plan documents to permit retirees to take systematic withdrawals, rather than a lump-sum distribution, experts say. And they warn that many recordkeepers charge transaction fees as high as $50, so that is something advisers will need to negotiate on behalf of their clients, should they go down this route.

Retirement Income
Illustrative Stories Can Help With Understanding Retirement Income Choices
Whether by video or written text, researchers found a short story significantly improved test scores about annuities and Social Security claiming. 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 >
Helping People Work Past Age 65
While 75% of employers consider their companies to be “aging friendly,” only 54% of workers think their companies have adopted such policies. Read more >
PANC 2019: Unlocking the Retirement Income Dilemma
Sponsors are beginning to be willing to adapt their plans to accommodate retirees’ lifetime income needs. Read more >
PANC 2019: 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 >
MOST POPULAR STORIES
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.
Nestle Sued Over Fees for Managed Accounts, Recordkeeping

The lawsuit contends that, in most cases, the managed account service added no material value to participants, creating asset allocations 'not materially different than' those of the age appropriate target-date options for participants.

Social Security Benefits, Taxable Wages Will Increase in 2021

Social Security recipients will see a 1.3% cost-of-living adjustment, and the maximum amount of earnings subject to the Social Security tax will increase by $5,100.

A New World and New Opportunities for Alpha
Pandemic-driven volatility has once again highlighted the relative virtues of active and passive management.
Reliance Trust Reaches Deal on 401(k) Excessive Fee, Self-Dealing Suit

Admitting no wrongdoing, Reliance Trust will pay $39.8 million to settle the case.

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