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Annuities may be a hot topic, but sponsors can add the most value to plans by incorporating features like auto-enrollment and auto-escalation before they move to the heavy lifting.
The financial insurance provider will roll out in early 2024 the option to transfer a percentage of their savings into an annuity, with another offering to follow in 2025.
For plan sponsors who want to add decumulation options to defined contribution plans, taking a considered approach and fulfilling simple steps first are key.
As most retirees no longer rely on a pension for lifetime income, plan sponsors should be exploring benefits that will support this population of participants.
CHATTANOOGA, Tenn., Feb. 22, 2022 /PRNewswire/ -- Unum (NYSE:UNM) employees have a new benefit to prepare for unexpected expenses – without dippin...