Despite the encouragement of regulators, the retirement plan industry at large and many retirement plan advisors, the take-up rate among plan sponsors remains rather modest.
In a recent industry survey of more than 5,000 plan sponsors, nearly half say they offer no retirement income options in their DC plans — and another third say they are unsure about which options are offered. And while the certainty improved along with plan size, the overall picture painted by PLANSPONSOR’s annual DC survey was relatively consistent.
Though the reason(s) are doubtless driven by a variety of factors, this week we’d like to tap your experience to identify the biggest impediments to including lifetime income solutions in defined contribution plans.
We’ve loaded a starter set of reasons for you to consider — but feel free to add one (or more) that you think was “overlooked.”
Weigh in at http://ideas.asppa.org/lifetimeincomebarriers.
How it Works
You’ll be given two options from which to choose — pick one, or add one of your own choosing to the poll. Can’t decide between the two? There’s an option for that as well. Then you’ll get two more to vote on, and so on. Vote as often as you’d like.
And while we’ve given you a list to start with, feel free to add your own (or post them in the comments below, and we’ll do that for you)! We’ll post the results on Friday.
WARNING: This can be addictive!
