The Setting Every Community Up for Retirement Enhancement (SECURE) Act provided a fiduciary safe harbor for selecting an insurer/vendor of guaranteed retirement income contracts and addressed the portability issue for offering in-plan guaranteed income products by permitting participants to transfer annuities no longer authorized to be held as investment options under a defined contribution (DC) plan. Still, plan sponsors might not understand product choices or how to address the huge need for participants to have guaranteed retirement income through DC plan design.
Join PLANSPONSOR and retirement industry sources for a discussion about:
The types of guaranteed income products available for sponsors of DC plans;
What plan and participant data to take into consideration to select the most appropriate guaranteed income product; and
Elements of guaranteed income products to evaluate when selecting one.
Managing Editor-Digital, PLANSPONSOR
Executive Director of the DCIIA Retirement Research Center
Warren Cormier is Executive Director of the DCIIA Retirement Research Center (RRC). He has previously served as CEO and co-founder of Boston Research Technologies and as president and founder of Boston Research Group. Warren is a veteran in the financial services industry with more than 25 years of experience in research for investment companies, banks and insurance companies. He is also recognized as a market research leader in the defined contribution industry. Warren is the cofounder of the Behavioral Finance Forum with Dr. Shlomo Benartzi and is based in Charlotte, North Carolina.
Executive Director, Institutional Retirement Income Council (IRIC)
In early 2017, Bob assumed the role of Executive Director of IRIC where Bob leads a group of Retirement Plan Advisors, defined contribution (DC) plan executives, DC service providers and investment firms that seek to deliver institutional retirement income products and income solutions through the DC system. IRIC is a not-for-profit organizataion manged by industry professionals dedicated to delivering retirement security throught the DC system by developing best practices regarding retirement income, working with regulators and legislators that promote institutional income solutions, generating innovation and thought leadership that fosters retirement income products within DC plans. Prior to assuming the Executive Director role at IRIC, Bob was Vice President of Product Development for the Retirement Plan Services Product and Solutions Management team at Lincoln Financial Group for 11 years. Bob holds a bachelor’s degree in Economics from Assumption College in Worcester, Massachusetts and an MBA in Business Economics from Drexel University.