Despite the cattle-calls from the mainstream media and the trumpeting of industry self-interests, a newly ordained “solution” to the so-called “retirement crisis” runs counter to the motives of firms that shifted their retirement plan emphasis from the defined benefit arena to the defined contribution world – and it has regulators shaking their heads.

There are plenty of solid reasons plan sponsors are moving slowly when it comes to incorporating Longevity Annuities into their 401k option menu (see “Why Longevity Annuities aren’t as Popular with 401k Fiduciaries as Regulators Think,”, December 9, 2014). But the real reason harks back to their primary motive for moving their retirement benefit programs into 401(k) plans in the first place. 

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