Pension Research Council News


ERISA Advisory Council Explores Annuity Default Options in DC Plans

A person is holding a red umbrella over a pink piggy bank, symbolizing financial protection or saving money.

At an ERISA Advisory Council hearing for the Dept. of Labor, experts recommended including annuities in defined contribution plans to hedge against longevity risk. Olivia S. Mitchell, a Wharton School professor, supported a default annuity structure that begins payments later in life to simplify financial decisions for older participants. Read More

5 Biggest Regrets of Retirees

A desk scene with laptops, a notebook, a calculator, and documents, illustrating people working on retirement planning, with coffee and eyeglasses nearby.

The top financial regrets of older Americans? Not saving enough, retiring too early, and not buying long-term care insurance. Also, many regret not purchasing annuities and claiming Social Security too early. Insights from Abigail Hurwitz and Olivia S. Mitchell emphasize the importance of proactive financial planning. Read more here.   Read More

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