Longevity and the demise of defined benefit pension plans are causing increased concern about the possibility of outliving accumulated assets—and a corresponding interest in retirement income options.
It’s the reason the National Association of Plan Advisors (NAPA) launched a new certificate program designed for retirement advisors to evaluate, explain, and implement retirement income solutions for clients, the organization said on Wednesday. 
The Retirement Income for 401(k) Plans Certificate—(RI(k)—will “help advisors define the importance of retirement income solutions and how they are critical to holistic participant outcomes. Advisors will gain insight into effectively communicating these solutions to key stakeholders, selecting optimal plans based on differing factors, and choosing strategies for continuous learning as solutions evolve in the marketplace.”
A recent survey of retirement plan sponsors from J.P. Morgan Asset Management found that more than 80% feel strongly about helping participants generate retirement income, and nine out of 10 agree that it’s vital to offer investments that help participants generate income in retirement.
The certificate program is a self-paced course broken into five interactive modules. Plan advisors will become familiar with retirement income solutions available, the risks they seek to solve, and how to implement them using a prudent process with plan sponsors and participants.
“401(k) plans are tremendously successful workplace savings programs, but they are not yet truly retirement plans,” Brian Graff, CEO of the American Retirement Association (ARA) and Executive Director of NAPA, said. “Retirement income solutions have the promise of addressing this gap, enabling participants to receive income in retirement from plan investments. The goal of Ri(k) is to give plan advisors the tools to help plan sponsors and participants effectively utilize these burgeoning retirement income solutions.”
The certificate's education sponsors made the the course available to NAPA advisor members at no cost. They are:
- AllianceBernstein
- Allianz
- Allspring
- Broadridge
- Franklin Templeton
- Income America
- LGIM America
- Nuveen a TIAA Company
- PGIM
- VOYA Financial
MORE INFORMATION IS FOUND AT https://www.naparik.org/.
