While clean data is important for identifying deaths and locating participants and beneficiaries, it can also have a great cost benefit for plan sponsors implementing pension risk transfer activities.
Deciding Whether an Annuity Is Right for Your Plan Participants
Plan sponsors should look at participant needs to determine whether annuities would be a fit for their plan and, if so, which types of annuities meet those needs.
Reported by
The passage of the Setting Every Community Up for Retirement Enhancement (SECURE) Act has put a greater focus on the goal of providing guaranteed lifetime income for defined contribution (DC) plan participants.
Plan sponsors now are faced with the decision of whether to offer annuities for their participants and the decision of whether to offer the opportunity within the plan or outside of the plan. A look at some characteristics of their participant base could help them decide which options are right.