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With the passage of the SECURE Act, a growing number of plan sponsors and fiduciaries are beginning to explore annuities as a vehicle to provide guaranteed income for their 401(k) plan participants and address longevity risk. Still, the question of how to appropriately include income-providing solutions within a plan's offering is proving to be challenging. In fact, a recent Alight survey found 75% of plan sponsors indicated that fear of fiduciary liability around the selection of in-plan annuity solutions drove their decision to not yet offer them to their participants.
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