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401(k)s: They’re Not (Necessarily) Just for Employees Any More
A growing number of 401(k) plan sponsors, retirees, record keepers and regulators want retirees to stay in their plans well into, or even straight through, retirement, PIMCO has found.
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Industry Views are special reports that are sponsored and independent from RIJ's editorial content.
April 7, 2010, Cover Stories, Company/Trade Group News, 401(k)/IRA
The Empire Strikes Back
Lest they be drowned out by 401(k) critics, major DC plan providers have formed a new trade group, the DCIIA, chaired by PIMCO's Stacy Schaus. The group supports target-date collective trusts, deemed IRAs and lifetime income options.
Big insurers and investment firms like MetLife, New York Life, Goldman Sachs, PIMCO, AllianceBernstein and others have chipped in $15,000 each to belong to the DCIIA. Consulting firms like Hewitt, Mercer and Ibbotson have paid $3,500 a piece. Plan sponsors can join for only $1,000. The group has about 40 members so far. It will hold its first policy forum May 11 in Washington, D.C.
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