secure act

DB vs. DC: Wednesday Senate Hearing Dives Deep Into ‘Retirement Crisis’

By Brian Anderson Source: 401(k) Specialist That’s how Sen. Bernie Sanders (I-VT), Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, kicked off a hearing in Washington Wednesday titled, “Taking a Serious Look at the Retirement Crisis in America: What Can We Do to Expand Defined Benefit Pension Plans for Workers?” Most speakers during the 90-minute hearing expressed a desire for a shift back to defined benefit pension plans while other speakers, including HELP Committee ranking member [...]

Plan Sponsors Want Guaranteed Lifetime Income Options

By Brian Anderson Source: 401K Specialist According to new research released today by Allianz Life, retirement plan sponsors “overwhelmingly” see the value of guaranteed lifetime income options—and are now ready to begin offering these new choices in their plans almost two years post-SECURE Act. According to the new data, plan sponsors indicated that they believe offering a guaranteed lifetime income option is a wise move that will go over well with plan participants. Of those surveyed, 87% of plan sponsors believe [...]