Tag: Retirement Income

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.

More Needed in Proposed Annuity Safe Harbor Legislation

Speaking about RESA, J. Mark Iwry, nonresident senior fellow - Economic Studies at the Brookings Institution, said during an event, “If the legislation cannot be changed, maybe regulations following passage of the legislation can shore up the safe harbor.”

TIAA Enhances Retirement Income Profile Tool

Available to all customers, the tool analyzes an individual’s real-time account information, along with their responses to a handful of simple lifestyle and financial questions, allowing for projections and interactive analysis of retirement income strategies.