Tag: Retirement Income

Annuities Are Potentially More Useful Today Than Ever

Anxiety about turning DC plan assets into a “lifetime retirement paycheck” in such a low-rate environment is keeping aging Americans in the workforce—including many who very likely have enough money saved to retire comfortably and don’t want to keep working.

Employees Want to Control Some Assets in Retirement

Given a choice between managing assets on their own or purchasing a guaranteed income option, the majority of employees surveyed for the 2019 Retirement Confidence Survey chose either managing on their own or splitting their assets between the two options.

DOL Receives Recommendations for Lifetime Income in DC Plans

The ERISA Advisory Council sent a report to Secretary of Labor R. Alexander Acosta focusing on recommendations for promoting lifetime income (LTI) within defined contribution (DC) plans through changes to the annuity selection safe harbor and modifying the qualified default investment alternative (QDIA) rule.

Social Security Trust Funds Gain One Year

Combined assets of the Old-Age and Survivors Insurance and Disability Insurance (OASI and DI) Trust Funds are projected to become depleted in 2035; however, the OASI Trust Fund is projected to become depleted in 2034, the same as last year’s estimate.