Inclusion of Guaranteed Retirement Income Solutions in 401(k) Plans: Impact of SECURE 2.0
The SECURE 2.0 Act of 2022 expressed Congressional policy to encourage defined contribution plans, such as 401(k) plans, to offer insured retirement income to their participants. The Act included several provisions that ease compliance barriers when insured income products are offered in plans. Read more from the Retirement Income Institute Alliance for Lifetime Income.
The Retirement Income Challenge in 401(k) Plans: Overcoming Legal Obstacles
Plan sponsors have been concerned about their fiduciary responsibilities for the selection of insurance companies to provide guaranteed income in their defined contribution plans, such as 401(k) plans. The SECURE Act of 2019 created an easy-to-satisfy fiduciary safe harbor to protect plan sponsors and to facilitate insured retirement income in those plans. Read more from […]