Retirement Income Committee Meeting
December 4, 2017
How to “pensionize” an IRA or 401(k)
All DCIIA members are welcome to join the Retirement Income Committee Meeting on December 4th to hear our guest speaker. Please click here to access the Committee Group Site to register.
Steve Vernon, FSA, Research Scholar at the Stanford Center for Longevity, will join the Retirement Income Committee meeting to discuss a Social Security/required minimum distribution strategy -- designed as a way for workers with between $100,000 and $1 million in savings to generate a stream of stable retirement income. This discussion will explore his research and the strategy's possible role as a DC plan's investment default. We will allow plenty of time for discussion and Q&A.
The DCIIA Retirement Income Committee provides a forum to:
Foster and promote research, education, and the promulgation of sound fiduciary practices related to institutional retirement income issues
Frame the industry and public retirement dialogue in outcome-based terms
Support efforts advocating that 401(k) statements reflect a lifetime income stream, in addition to account balance
Become a clearinghouse for education and communication on the full range of retirement income solutions, tailored to the needs of multiple audiences: plan sponsor, participant, consultant, and regulator
Encourage industry standardization and operational protocols for supporting institutional retirement and lifetime income solutions
Promote portability/transferability of income between record keeping platforms
Promote acceptance of retirement income strategies as a QDIA
Encourage consideration of auto-enrollment into retirement income strategies
Support both guaranteed and non-guaranteed institutional lifetime income solutions
Clarify impact of required minimum distributions (RMDs) on ability to offer different types of income solutions
Promote equal and relevant treatment of various income solutions under the RMD rules
Encourage regulatory principles for retirement income options that are equivalent to other 401(k) options
Assist plan sponsors who choose to offer an institutional retirement income solution, either in their plan or outside of the plan, in discharging their fiduciary responsibility to periodically review their offering to ensure that it is appropriate for participants and meets current investment and fiduciary standards for performance and risk
Assist plan sponsors and their advisors in developing and agreeing to broad standards for comparing various income-related solutions
Foster partnerships and/or alliances with organizations and individuals who share our goals in order to leverage knowledge and resources
Engage in primary and secondary research activities that will broaden awareness and understanding of institutional lifetime and retirement income
Any DCIIA member may participate in the Retirement Income Committee. To join, click on the link below.