The Animus behind DOL’s ‘Amicus Briefs’
By filing 'amicus briefs' on behalf of the corporate plan sponsors—the defendants—in several participant-led, ERISA-based class action suits, the Trump DOL signals its alignment with the corporations.
401(k)/IRA
Pacific Life and Principal Add Payout Options to 401(k)s
The three 401(k) annuities described here differ in their pre-retirement crediting mechanisms, their flexibility for the owners, and in the scope of their guarantees. (This article includes current map...
Retirement Income News
Empower to buy Milliman's retirement businesses; Ford offers Hueler’s Income Solutions platform as 401(k) distribution option; U.S. Treasury selects two BlackRock funds for Trump Accounts; Security Benefit launches short-surrender...
No Rush to Private Credit Among DC Plan Advisors
'There doesn’t appear to be a groundswell of demand,' said Deb Dupont, vice president of institutional retirement research at LIMRA, which sponsored the survey of 160 plan advisors in...
401(k)s don’t need private assets or ‘crypto’
Alternative investments, crypto, private assets—these are bread for the money management industry. For most Americans, these exotic assets are not bread, or even cake; let alone icing.
A Menu of Income Options for DC Plans?
If no two 401(k) participants have the same levels of retirement savings and the same retirement spending needs, shouldn't their plans offer more than one process for decumulating their...
ChatGPT’s View of Private Equity in TDFs
'Private equity appears safer and more diversifying than it really is because it controls its own marks. This undermines the integrity of asset allocation models and can lead to over-allocation,...
401(k) Annuities for ‘Pretty Good’ Lifetime Incomes
Recognizing the longevity gap that's correlated with education, three retirement scholars recommend default income annuities starting at age 67 for participants with only high school diplomas and age 80...
Crypto no longer requires ‘extreme care’ from plan sponsors: DOL
'The Biden administration’s Department of Labor made a choice to put their thumb on the scale,' said U.S. Secretary of Labor Lori Chavez-DeRemer in a May 28 release....
How Ready is Your State for Retirement? Here’s an Answer
The Georgetown University Center for Retirement Initiatives has just released a 130-page document, 'Who Lacks Access to Retirement Savings? A State Level Analysis.' You can access a pdf copy...
Australia’s ‘Super’ DC program faces decumulation problem
'While superannuation funds have excelled at accumulating wealth, they have struggled to provide products that deliver reliable income streams throughout retirement,' warns a Jasper Forum spokesperson.
Participant Sentiment a ‘Hurdle’ to 401(k) Annuity Uptake: Cerulli
'The tradeoff between liquidity and a guaranteed income stream is unappealing for many participants,' a Cerulli survey of asset managers found.
Cannex puts 401(k) annuities to the test
'Insurance companies should all be thinking carefully about this,” said Ramsey Smith, CEO of ALEXIncome, with respect to the nascent 401(k) annuity market. 'They need to understand that this...
DOL names new members of ERISA Advisory Council
The 15-member council provides advice on policies and regulations affecting employee benefit plans governed by the Employee Retirement Income Security Act of 1974 (ERISA).
Retirement income is Kevin Crain’s comfort zone
The new executive director of the Institutional Retirement Income Council, who is succeeding Michelle Richter-Gordon, brings decades of experience in the retirement industry to his new role. IRIC will...
Why 401(k) Plan Sponsors Remain Wary of Annuities
The SECURE Act of 2019 did too little, too soon, in opening up 401(k) plans to all kinds of annuities. Some big 401(k) plans are ready to offer in-plan...
RIJ Launches the 401(k) Income Research Center
RIJ intends to give plan sponsors, plan advisors, retirement plan service providers and others an up-to-date, easy-to-access source of curated information and competitive intelligence on products and processes that...
Recurring Idea: Give the ‘Tax Expenditure’ to the Poor
The Penn Wharton Budget Model, a group that assesses new spending programs, calculates that, if the US Treasury eliminated the tax deduction for contributions to retirement plans, it could...
Should Participants Get Lifetime Income By ‘Default’?
The ERISA Advisory Council heard testimony on whether to tweak the rules for Qualified Default Investment Alternatives to accommodate—or exclude—annuities. Advisors to 401(k) plans should read this.
What Recordkeepers Think about 401(k) Annuities
The Defined Contribution Institutional Investment Association (DCIIA), a Washington, DC-based trade group, recently conducted a survey of recordkeepers to measure their progress toward facilitating income options in 401(k) plans.
