Article / Retirement
Dusting Off Defined Contribution Annuity Conversations

Lockton Retirement Services’ Sam Henson, Vice President, Director of Legislative and Regulatory Affairs, responds to the Department of Labor (DOL) Field Assistance Bulletin 2015-02 in a new issue of The Beacon.

“The ‘FAB,’ as the bulletin is called, explains requirements for selection and ongoing monitoring of annuities in retirement plans, Henson wrote in The Beacon. “It failed, however, to provide insight into the larger challenge for retirement plan sponsors, how to review an annuity insurers’ financials.”

“Most fiduciaries do not have the expertise to determine whether a provider is financially able to make all future payments under the annuity contract,” Henson added. “The difficulty of determining this and the risk of a wrong step have been major obstacles to widespread adoption of annuity options.”

Read Henson’s full response.

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The_Beacon-DOL_Annuity_Guidance-Aug15 (933 KB)
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