There has been a push to add annuities to retirement plans, but I don\u2019t see it gaining ground.<\/p>\n
According to Alight, plan sponsors are hesitant to add it, which was part of the 2019 SECURE Act.<\/p>\n
Alight\u2019s data showed that among plan sponsors, 47% cite fiduciary concerns as a major reason for not adding annuities. 44% of plan sponsors are waiting to see how the market evolves, and an equal percentage cite difficulty with participant communication. 38% of plan sponsors blame operational or administrative concerns, and 32% cite participant use concerns as major reasons for abstaining from annuities.<\/p>\n
Only 12% of plan sponsors have annuities in their defined contribution plan, 3% are very interested in annuities for the plan, 35% are moderately interested and 51% are not at all interested in annuities in their defined contribution plan.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" There has been a push to add annuities to retirement plans, but I don\u2019t see it gaining ground. According to Alight, plan sponsors are hesitant to add it, which was part of the 2019 SECURE Act. Alight\u2019s data showed that … Continue reading