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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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
