- An overwhelming nine out of ten participants like the idea of income-generating options within their employer's plan.
- Although modest in numbers, Baby Boomers show increased preference for guaranteed income as they get older.
- In-plan guaranteed income options protect against market volatility as retirement approaches.
- Group purchases lower fees.
- Better participant outcomes make for a happier workplace.
- Fiduciary concerns are a significant barrier to greater acceptance of in-plan guaranteed lifetime income solutions.
- Less control of retirement assets also is a concern.
The full report, Guaranteed Lifetime Income Options within Employment-Based Plans: Leveraging Advantages and Overcoming Challenges. is posted on the IRI website.