When it comes to plan design, I believe in the idea of KISS:\u00a0 keep it simple, stupid.<\/p>\n
While the SECURE Act protects plan sponsors from liability by offering annuities, I have zero interest in adding an annuity option to a 401(k) plan. I like lump sum and partial withdrawals as payment options, everything else takes too much work and plan sponsors have too much work.<\/p>\n
The only folks who will push annuities in 401(k) plans are the folks who stand to make money off of it. I understand that plan participants have issues on whether retirement savings will last and that\u2019s why they might purchase an annuity, but that\u2019s a choice they can make when retiring and receiving a lump sum payment.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" When it comes to plan design, I believe in the idea of KISS:\u00a0 keep it simple, stupid. While the SECURE Act protects plan sponsors from liability by offering annuities, I have zero interest in adding an annuity option to a … Continue reading