Press Release

PSCA Announces Retirement Income Education Program

Issued by PSCA [Plan Sponsor Council of America]

Jan. 15, 2025

Online program for plan sponsors provides comprehensive information on retirement income solutions.

Arlington, VA – In recent years, the retirement plan industry has pivoted from not just how to help employees save for retirement, but how to help them best use their savings once retired to provide a steady stream of income for the rest of their lives. As such, there are now multiple products and methods available for plan sponsors to consider implementing. These solutions can be a bit complex, as can the regulations guiding them. To help plan sponsors understand their options, and fiduciary obligations around retirement income solutions, the Plan Sponsor Council of America (PSCA) created an online education program that provides a thorough overview of retirement income options.

“We have been hearing from members for a while that they are interested in providing some type of retirement income solution to employees, but there is a lot of uncertainty about the types of options available, and the regulatory guidelines involved,” said Will Hansen, PSCA’s executive director. “We created this program to meet this need and provide plan sponsors with a comprehensive look at the options available and the regulatory framework guiding them.”

The Retirement Income for Plan Sponsors certificate equips plan sponsors with the knowledge they need to make informed choices for their employees and meet their fiduciary obligations in doing so. The two-hour online program provides information about different types of retirement income solutions, the risks involved, and the trade-offs of each option. In addition, the course distinguishes between settlor and fiduciary responsibilities in evaluating plan design, providing a framework for the prudent selection, monitoring, and replacement of retirement income solutions. By the end of the course, plan sponsors will be well-prepared to select and manage retirement income solutions that align with participant needs and regulatory requirements.

The program will be made available free to PSCA members (nonmembers can take the course for a fee). More information about the Retirement Income Certificate is available at https://www.psca.org/ric.

About the Plan Sponsor Council of America

The Plan Sponsor Council of America (PSCA), part of the American Retirement Association (ARA), is a diverse, collaborative community of employee benefit plan sponsors, working together on behalf of millions of employees to solve real problems, create positive change and expand on the success of America’s voluntary, employer-sponsored retirement system. With members representing employers of all sizes, PSCA offers a forum for comprehensive dialogue. By sharing our collective knowledge and experience as plan sponsors, PSCA also serves as a resource to policymakers, the media and other stakeholders as part of its commitment to improving retirement security for millions of Americans. For more information, visit psca.org.

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