Tina Wilson - DC Plan Retirement Income Options

Be More Than A Fiduciary

Tina Wilson is Executive Vice President and Chief Product Officer for Empower. In her role, she is responsible for the strategy, ideation, and design of retirement and personal wealth products and solutions and oversees the team responsible for product development, management methodology, and governance. She is also responsible for the defined benefit and nonqualified businesses and serves as President of Empower Advisory Group, which is responsible for Empower’s advice and managed accounts solutions.

In this episode, Eric and Tina Wilson discuss:

• Retirement income solutions
• The benefits of in-plan annuities
• Discovering solutions through education
• Proactively educating committee members

Key Takeaways:

• Retirement income solutions, also referred to as “drawdown products,” have been simplified and made more cost-effective for retirement plans, offering participants increased options and flexibility. Choice is essential to accommodate the varying needs of different plans and their demographics.
• In-plan annuities provide flexibility, cost-effectiveness, and the option to annuitize, setting them apart from traditional annuities bought in the open market. Guaranteed income products offer a steady stream of income in retirement, with the potential for increases based on market performance and the flexibility to access principal if needed.
• The Secure Act has addressed portability concerns for guaranteed income funds at both participant and plan levels. Committee members and advisors can access various resources, such as conferences, webinars, podcasts, and product providers, to learn about retirement income solutions and build their knowledge in this space.
• Advisors should proactively educate themselves and their committee members on these solutions, even if it requires additional meetings outside of the regular quarterly sessions. By doing so, advisors can better serve their clients and protect their business.

“The math behind this tells us that the majority of participants, not all, but the majority of participants would benefit from the inclusion of guaranteed income and their drawdown strategy, whether it's in-plan or not.” - Tina Wilson

Connect with Tina Wilson:

Website: https://www.empower.com/

LinkedIn: https://www.linkedin.com/in/tina-wilson-cfa-a8a9aaa/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: [phone]

Email: [e-mail]

LinkedIn: https://www.linkedin.com/in/401kguy/

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.

The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.