Sponsors of defined contribution retirement plans can boost participants’ retirement income by up to 20 percent or even more—just by throwing their weight around.
That’s according to a new issue brief from the Institutional Retirement Income Council, which found that the key lies in the use of institutionally priced retirement income generators.
The study looked at three RIGs it said could be used to increase retirement income for participants: systematic withdrawals, immediate annuities and guaranteed lifetime withdrawal benefits.
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