In this episode of Broadcast Retirement Network, we bring together leading voices on retirement income strategy and fiduciary considerations. Guests include John Schembari, Kutak Rock, Ed McIlveen, CFA, Francis, LLC, and Robert Scherzer, AIF of World Investment Advisors. We discuss what employers and fiduciaries should weigh when introducing (or evaluating) guaranteed lifetime income features within defined contribution plans—balancing participant needs, plan design, and real-world implementation realities.
You’ll hear practical insights on due diligence, suitability, and the communication challenges that come with retirement spending solutions. From the SECURE Act landscape to in-plan versus out-of-plan approaches, our guests break down how to think clearly about complexity, governance, and participant outcomes—so decision-makers can move from “accumulation” to a more confident “decumulation” conversation.
What You’ll Get From This Video
You’ll walk away with clear, practical guidance on the fiduciary considerations that come with retirement income solutions in defined contribution plans. We’ll break down a usable framework for evaluating guaranteed lifetime income options, including what to focus on during due diligence and how to think about real-world tradeoffs. You’ll also hear perspective on in-plan versus out-of-plan approaches—when each may fit best—and how to approach participant communication so guarantees are explained accurately and in plain language. Finally, you’ll get key takeaways to help stakeholders move from “accumulation” to “decumulation” with more confidence.
What You’ll Learn
• How fiduciaries should think about retirement income solutions in defined contribution plans
• The due diligence checklist for evaluating guaranteed lifetime income options
• In-plan vs out-of-plan considerations that affect governance and participant outcomes
• What to watch for when comparing complexity, suitability, and real-world implementation
• How to communicate guarantees clearly—without confusing participants
• Practical insights for moving from accumulation to decumulation
Chapters
01:32 — Guaranteed income reality check: complexity + scalability + liquidity
02:43 — Where adoption happens: plan types + the role of QDIA simplicity
03:44 — In-plan vs out-of-plan: adoption and fiduciary governance
05:54 — SECURE Act + shifting incentives: safe harbor and retirement timing
07:17 — New DOL guidance: complexity, liquidity, transferability, viability concerns
09:54 — The committee “un-gluing”: fees/platform fairness + explaining the insurer’s intent
10:22 — Due diligence in practice: optionality, performance drag, and market changes