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IRIC In the News

2008 2009 2010 2011

Institutional Retirement Income Solutions: Product Comparison Criteria Overview and Market Product Types and Distribution Channels

A Growing DC-Plan Focus: Retirement Income

The Institutional Retirement Income Research Council (IRIRC) has launched a series of planned white papers with its first release, "A Call to Action." The IRIRC, which is comprised of a dozen plan consultants and advisors who work directly with plan sponsors. view

Retirement Experts Urge Plan Sponsors to Shift Focus

HARTFORD, CT, December 2, 2008 -- Generating secure lifetime retirement income should become an urgent priority for plan sponsors and participants, according to the Institutional Retirement Income Research Council (IRIRC). view

The Income Revolution What is in it for Advisers?

Advisers trying to stay current in the retirement plan industry are being confronted by an increased need for retirement income solutions. However, knowing what solutions are available and communicating those to plan sponsors requires dedication and education. download PDF

New Retirement Think Tank

Group's charter is to tackle income options and help advisors

The Institutional Retirement Income Research Council (IRIRC) has taken up the mandate of what it says is the urgent issue of evaluating decumulation strategies for retirement to help everyone in the industry make the best decisions for the coming wave of retirees. view

The Income Revolution Hype or Hope?

What is the best way to address the impending retirement of the Baby Boomer generation and the need to generate income from 401(k)s and other such defined contribution savings plans, in retirement? download PDF

Retirement Holy Grail is Secure Income

With defined contribution plan assets projected to be the primary source of retirement income other than Social Security in coming years, pressure is building to design retirement income solutions into such plans, according to a new white paper. view

New Website: Institutional Retirement Income Research Council

Excerpt: "The purpose of this group is to advance the interests of retirement savings plan participants, plan sponsors, and plan advisers and consultants by: Introducing innovative approaches to in-plan retirement income solutions; Creating acceptable best practices and evaluation tools to supplement the RFP process; Discussing and identifying regulatory, legislative and fiduciary issues pertinent to institutional income solutions; and Producing and publishing relevant findings through various media outlets." view

Group Think

A new think tank underwritten by Prudential Retirement, the Institutional Retirement Income Council (IRIC), whose mandate is to evaluate decumulation strategies for retirement, had its first open meeting in November and issued a Call to Action white paper. view

Recordkeeping Breakthrough

After a year-long effort, on September 30, 2010 The Spark Institute released final information on record keeping sharing standards and data records for lifetime income solutions in retirement plans. According to the press release, "The standards will make it easier and more cost effective for record keepers and insurance carriers to offer retirement income solutions to plan participants".

Lifetime Income Hearing Witnesses Demand Fiduciary Shield

A strong theme in testimony from witnesses at this week's hearing into providing lifetime income options in retirement plans was a warning of how much sponsors fear incurring liability in provider selection and participant education. view

Features in a Challenging Market: Variable Annuity Guaranteed Minimum Withdrawal Benefit (GMWB)

Learn how Variable Annuity (VA) writers are:
- Employing a new pricing paradigm for GMWB features
- Reflecting hedging costs in rider pricing
- Designing hedging strategies for GMWB features
- Variable Annuities Insights view

Getting the Word Out

"Why employers still shy away from retirement-income products, and what advisers can do about it." view

Multiple News Outlets

Steve Vernon's article "The Retirement Income Menu: An Idea Whose Time Has Come" generated a great deal of press and interviews over the past month. The following news outlets cited Steve and his paper:

BenefitsPro: Next on the menu: Retirement income options
National Underwriter: Ideas: Retirement Income Menu, Voluntary Benefits Selection, Installation Fee Offsets
Society for Human Resource Management (SHRM): Retirement Income Menus: The Next Step for 401(k)s?
Employee Benefit News: Helping employees find the off-ramp toward sensible retirement income distribution
Plan Sponsor: IRIC Calls for Retirement Income Menu in 401(k)s

Financial Planning Magazine

This article on the need to protect against longevity risk features the recent IRIC research paper "The Problem with Living Too Long". view

Benefits Pro

IRIC adviser Ben Yahr is interviewed about guaranteed lifetime income options in DC plans. view

Retirement Income Journal

The Retirement Income Journal featured an article on the IRIC paper "Fiduciary Considerations for Insured Retirement Income Products".

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