The Decumulation Conundrum: Income In Retirement

A record number of Americans are currently in retirement, and people are living longer.

The retirement industry has made significant progress to help retirement plan participants better save for retirement. But the decumulation portion of the retirement equation is far more complicated.

When the SECURE Act was signed into law in December 2019, the legislation broadened access to retirement plans and facilitated the adoption of retirement income solutions. Among other changes, the bill provided protections for plans that incorporate annuities as retirement income options.

Study after study shows workers don’t know how much they need to retire or what their savings will provide in retirement. Fortunately, we’re entering an entirely new phase in retirement plan structure and management. The focus is transitioning from just accumulation to a more holistic approach to help participants through retirement. Record keepers, plan sponsors and participants, the investment community, insurance companies, regulators—all have roles to play to address the adoption challenges ahead.
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