December marked the one-year anniversary of the passage of the SECURE Act, which is expected to be a game-changer in the institutional income annuity landscape.
It has made it easier for plan sponsors to offer annuities in defined contribution plans. In fact, interest was high among employers who were awaiting clarification on the annuity carrier selection safe harbor.
According to MetLife’s Evolving Retirement Model Study, eight in 10 employers indicated they were likely to offer a guaranteed income option within five years of the clarification being issued.
