09.16.24

In-Plan Annuity Uptake May Still Depend on Advice: Sri Reddy

by: Allison Bell

Combining a plain vanilla default investment strategy with a plain vanilla annuitization option might sound great to advisors. But Sri Reddy, a senior vice president at Principal Financial Group, notes that advisors are different from the participants in a typical 401(k) plan. With a typical 401(k), persuading participants to make active choices about an income option is difficult, Reddy. “Unless you make it a default, you get limited uptake,” he added.

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