Retirement Plan Advisors has reported employers “warming” to lifetime income solutions with 23% having adopted “…at least one approach in their DC retirement plans”. 18% more are considering it.
Retirement Plan Advisors recently reported that Greenwald & Associates surveyed 565 employers for Massachusetts Mutual Life Insurance Co. last year and reported that 88% of these sponsors would recommend their adviser to another employer with 37% saying they would be “very likely” to do so. 93% reported the costs and benefits of working with advisers as favorable and 94% reported overall satisfaction with their adviser. A mere 10% indicated they probably would not make a recommendation.
Mid-April of 2017 will bring about the new fiduciary rule so it is important to be prepared for changes.
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