Distribution Options for Employees

PLANSPONSOR

Retirement plan participant decisions about taking distributions from retirement plans can have long-term consequences. This is true whether they are determining if they should tap into their retirement savings to meet a short-term financial need or whether they are at the end of their careers determining how to translate their savings into income for life.

As with savings decisions, participants take cues from plan sponsors when it comes to distribution decisions. For example, just as implementing automatic deferral escalation shows participants they should increase their savings over the course of their careers, not allowing hardship withdrawals sends the message that savings designated for retirement should remain untouched. Communications to participants are also important to help them make the right decisions.

Join PLANSPONSOR editors and retirement industry experts in a webinar in which you will learn:

• What changes have been made to hardship withdrawal and required minimum distribution (RMD) rules under the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the Coronavirus Aid, Relief and Economic Security (CARES) Act;
• How to determine whether to offer hardship withdrawals and loans in your plan, including whether to offer coronavirus-related distributions (CRDs) and higher loan amounts under the CARES Act;
• What distribution options may be offered in your plan to help retiring participants create an income stream for life; and
• What elements to include in communications about different distribution types to help participants make decisions that will not hurt their retirement outcomes.

Moderator: Rebecca Moore, Managing Editor, Digital, PLANSPONSOR

Presenters:

• Carol Buckmann, Co-founding Partner, Cohen & Buckmann P.C.
• Robyn Credico, Defined Contribution Consulting Leader, North America, Willis Towers Watson
• Steve Vernon, Research Scholar, Stanford Center on Longevity

More Information, How to Register