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Retirement Income: Key Considerations

Retirement Income: Key Considerations Peg Knox, with the Defined Contribution Institutional Investment Association (DCIIA), says DC plans need to evolve to prepare participants to convert their assets into retirement income. Reported by Having evolved meaningfully over the past 40 years, today’s defined contribution (DC) plans now enable participants to accumulate and invest retirement assets even more easily than in the past. DC plans also most often allow participants to retain assets in-plan throughout retirement. Yet research indicates that most of them are ill-prepared to convert their assets into retirement income. The conclusion for DC plan sponsors seeking to assist these participants is clear: The next step is to evolve plan design and investments by adding a benefit distribution focus to offerings and communications and/or by adding services to better address the needs of those near or in retirement. Plan participants have also identified this as an area of need.

Lifetime Income Illustrations for 403(b) Plans With Annuities

Can inherited IRA withdrawals change with disability?

Can inherited IRA withdrawals change with disability? Updated Mar 08, 2021; Q. Suppose the sole beneficiary of an IRA on the date of inheritance is categorized as a “non-eligible beneficiary” for the stretch provision, yet becomes disabled or chronically ill during the ten-year payout period. Do they then become eligible for the stretch payout of undistributed funds? Curious A. Yours is a great question. The SECURE Act Setting Every Community Up for Retirement Enhancement of 2019 changed the way inherited IRA accounts are treated. The change requires most non-spouse beneficiaries to withdraw all the funds in the inherited IRA over a 10-year period, said Bernie Kiely, a certified financial planner and certified public accountant with Kiely Capital Management in Morristown.

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