Lifetime Income Options: Considerations from the GAO

A Multnomah Group Webinar
January 2017

Often times, plan sponsors and their service providers put all of their energy into enrolling and educating new participants about the availability and features of the retirement plan and the way to sign-up for the plan.  Little time is spent with those nearing retirement – strategizing regarding their distribution plan.  A critical shift in focus must be made from this accumulation phase to the deccumulation phase – as both are vital pieces of the retirement puzzle – and the Government Accountability Office (GAO) agrees.  This is particularly true given the decline of defined benefit plans in America, the fact that defined contribution (DC) plans are the primary source of income that participants must manage to ensure income for the remainder of their life, and the fact that life expectancy continues to rise.

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