Retirement income products are moving from once being thought of as ‘nice to have’ to now being ‘highly coveted’ by plan participants. This change in attitude is so dramatic that industry leaders from retirement plan aggregator firms, record-keepers and broker/dealers assembled in New York City recently to discuss the concept and concerns over asset decumulation.
The topic has been discussed for decades, however, since the parallel-meltdown in equities and fixed income during 2022, the topic has been pushed forward and has become a front-burner item.
The challenges facing retirement income and asset decumulation are many, however, more people today are looking to make their defined contribution plan assets look and act more like a traditional pension plan. One of the biggest challenges? Plan participants are reluctant to pay-up for a fixed income guaranteed revenue stream… today.
To learn the findings of the WealthManagement.com’s Retirement Income Roundtable and Think Tank in New York City, click here.