The IRIC, a non-profit think tank, expects more plan sponsors will consider income solutions and other de-accumulation strategies next year. (Photo: Shutterstock)
Will 2019 be a breakthrough year for income products in 401(k) plans?
The table could be setting up for retirement income solutions as about $1 billion is migrating out of defined contribution accounts daily, following retiring baby boomers, according to the Institutional Retirement Income Council.
In 2017, 9.3 percent of all 401(k) plans offered an in-plan lifetime income option to retirement savers, according to the Plan Sponsor Council of America's 61st Annual Survey.
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