Treichel co-authors white paper discussing common objections to in-plan lifetime income options

Retirement industry experts recently urged plan advisers and sponsors to seriously consider in-plan retirement income backed by annuities. Instead of focusing on the benefits, they addressed critiques of these new and sometimes controversial solutions.

Bonnie Treichel, Chief Solutions Officer at Endeavor Retirement says, “There are a lot of reasons of why a plan fiduciary might fear [in-plan retirement income options], but there are many other reasons they should consider it.” In a paper co-written with Matthew Eickman, national retirement practice leader at Qualified Plan Advisors, four key ingredients for retirement confidence are identified: 1) greater savings, 2) lifetime-lasting savings vehicles, 3) guarantees or protections for savings, and 4) retirement management education. They noted that while the industry has made progress on increasing savings through auto-enrollment, escalation, and qualified default investment alternatives, more attention is needed on the second and third elements, with education partly depending on available offerings.

To learn more, click here to read “A Call to Action on Retirement Income”.