Recordkeepers are bolstering education, projection modeling tools and tailored advice capabilities to support plan participants and encourage them to remain on track for retirement income planning.
New research by the National Institute on Retirement Security reaffirms earlier findings on the greater cost savings and efficiencies provided by pensions as compared to defined contribution plans.
There's optimism among providers of in-plan lifetime income products that 2022 could be the year their efforts gain traction in the defined contribution arena.
Some updates to the Form 5500 implement changes called for by the SECURE Act, and others will require more review from plan sponsors to ensure completeness and accuracy.