The Department of Treasury recently took a significant step in addressing the realities of longevity risk in retirement by issuing final rules on deferred income annuities.
But much more remains to be done by both government and industry, according to the Defined Contribution Institutional Investment Association.
"While DCIIA enthusiastically supports the commitment of both the Departments of Treasury and Labor in encouraging more robust and broad-based adoption of lifetime income solutions in U.S. retirement plans, there is still more work to do," the association said in a statement.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
