Key Takeaways

• • Over 11,000 people are reaching age 65 every day and most have retired or are contemplating retirement.
  • Many of those retirees will rollover money from retirement plans, including 401(k) plans, into IRAs.
  • The IRA investments will need to provide sustainable retirement income for the lifetimes of those retirees, with regular withdrawals to pay for their costs of living.
  • Many retirees will receive advice from broker-dealers and investment advisers who are subject to SEC regulation and examinations.
  • To compound matters, many of those retirees will, in due course, suffer from diminished cognitive abilities, reducing their ability to evaluate the advice they are being given.
  • The cumulative effect of these factors is that the SEC is focusing on advice to retirees and older investors, as reflected in the 2025 Examination Priorities.