Keyword: retirement income solutions

Florida Looks to Revamp Lifetime Income Solutions

The state of Florida is seeking a new lifetime income provider for its $8.2 billion 401(a) plan. With $171.1 billion in the system, 76,000 401(a) participants having taken $6.7 billion in distributions since 2012, and the very likely possibility that new participants will be pushed in the DC-like system, it should be interesting to watch what happens in the Sunshine State.   Read More

Retirement Income Solutions on the Rise

The popularity of retirement income solutions continues to increase. According to new research from Aon Hewitt, 28% of plan sponsors now offer in-plan retirement income solutions, including professionally managed accounts with a drawdown feature, managed payout funds, and insurance or annuity products that are part of the fund line-up. This is nearly twice the percentage of employers (16%) that offered them a year ago.   Read More