man with laptop and word Annuity (Photo: Shutterstock)

For years, the insurance industry and advocates for guaranteed income products have been lobbying to get fiduciary sanctuary for employer sponsors of defined contribution plans who put annuities in investment menus.

And for at least a good part of last year, that sanctuary was all but certain, thanks to the annuity provider selection safe harbor in the SECURE Act.

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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.