Summary
The document is a research report titled '2023 Retirement Income Pulse Check,' which examines the perspectives of consultants regarding guaranteed retirement income solutions in defined contribution (DC) plans. The study, commissioned by MetLife, aims to provide insights into how consultants recommend these solutions to plan sponsors and investment committees, particularly in light of recent legislative changes such as the SECURE Act of 2019. It outlines the methodology used for the survey, which involved 74 DC plan consultants, and presents findings on their knowledge of retirement income options, comfort levels in recommending these options, and actions taken since the SECURE Act. Key findings include that a significant majority of consultants feel more comfortable recommending retirement income options post-SECURE and that many have engaged in due diligence and discussions with clients regarding these options. The report also highlights trends in the adoption of guaranteed retirement income solutions and the factors influencing consultants' recommendations.
