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
CARES Act Update: A Few Important Points About Required Minimum Distributions

First the SECURE Act and now the CARES Act have made important changes to the rules for required minimum distributions from individual retirement accounts and 401(k)s.

Hard Choices Ahead About Easing Hardship Withdrawals

With the coronavirus pandemic causing acute financial harm to so many Americans, plan sponsors may feel compelled to offer hardship withdrawal relief in their plans; plan advisers can help them make the best decisions for their workforce by, for example, endorsing loans over outright withdrawals. 

Clients Must Treat Layoffs and Furloughs Carefully

The IRS may determine that a ‘partial termination’ of a plan has occurred if a company undergoes sizable layoffs—but not furloughs—potentially impacting vesting schedules and other aspects of plan operations.  

A Brave New Fiduciary World
The response of advisers to the coronavirus pandemic can provide a concrete illustration of how fiduciaries now function.
First Time Advising in a Bear Market?
It’s easy to tell clients their accounts have grown by leaps and bounds, but helping them calmly navigate a severe and sustained market downturn is another matter.
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