This month we bring you scholarly articles on the Social Security 'tax torpedo,' the likelihood of needing long-term care, the best decumulation strategies from DC plans, the people most likely to 'freak out' when the markets crash, and what advisers must do to avoid trouble when recommending rollovers.
I watched a webinar this week on 'Key Trends in Defined Contribution Plans,' hosted by the Georgetown Center for Retirement Initiatives. Regarding demand for income options in 401k plans, a BlackRock executive said, 'It's big. It's here.' So why is progress so slow?
Except for the fourth quarter of 2008, during the Great Recession, quarterly annuity sales have never higher, according to the Secure Retirement Institute (SRI) US Individual Annuity Sales Survey.
PGIM, Prudential Financial's asset management group, has a new unit, PGIM DC Solutions. Its CEO, Linda Gibson, said the market demands 'a comprehensive approach to retirement income... We have created PGIM DC Solutions to spearhead that effort.' Retirement income expert David Blanchett is on the team.
Assets in IRAs totaled $13.2 trillion at the end of 2Q2021, up 5.4% from the end of 1Q2021. Defined contribution (DC) plan assets were $10.4 trillion at the end of the second quarter, up 5.3% from March 31, 2021, the Investment Company Institute reported.