(PlanAdviser) – Retail sales of annuities have been booming on higher interest rates even as new data shows that workers want lifetime income products more than other employer resources aimed to boost their retirement readiness.
But a disconnect remains for in-plan defined contribution annuities, as other research shows that employers are still hesitant to offer annuities in part due to fiduciary concerns.
Among the resources available to workers from their employers to help them “pivot” into retirement, 67% of respondents are most focused on a having their employers implement a guaranteed income product—ahead of access to financial consulting, retirement calculators […]
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