Yes, there's a new 'safe harbor' for selecting an annuity provider for a 401(k) plan in legislation that appears headed for the president's signature. But there's no sign that many employers or employees want in-plan annuities, and the bill gives them no special reason to.
'We found that broker-dealer representatives in states with common law fiduciary duties sold cheaper and better products and sell fewer variable annuities overall,' said Manisha Padi, one of the authors of a new paper exploring the impact of imposing fiduciary duties on advisors.
In a departure from their preliminary findings of three years ago, economists found that middle-income government workers didn't increase their debt levels after being auto-enrolled in the Thrift Savings Plan.
'Debt resulting from tax cuts that are spent on mega-yachts would almost certainly be excessive; debt incurred to improve educational outcomes, maintain essential infrastructure, or address climate change would probably not be,' writes our guest columnist.
Generational views of retirement differ: TIAA; Stress on the Bank of Mom and Dad: Legal & General Group.