On Tuesday, it issued an advisory opinion addressing when lifetime income investment options can be considered qualified default investment alternatives under federal law.

While diversification and return potential drive interest, most advisors say greater ERISA/regulatory clarity is also needed, according to Empower’s survey.

SECURE 2.0 has expanded access to PEPs that allows smaller unrelated employers to join together under a single retirement plan, and now the Department of Labor will soon issue new guidance.

The Department of Labor has withdrawn its proposal to eliminate what it referred to as a “redundant” safe harbor rule that provides a standard for fiduciaries in selecting annuity providers.