Equitable, IRIC and Manifest Publish 2 Retirement Income Frameworks for DC Plan Sponsors
Updated
Updated · PLANSPONSOR · May 14
Equitable, IRIC and Manifest Publish 2 Retirement Income Frameworks for DC Plan Sponsors
1 articles · Updated · PLANSPONSOR · May 14
Equitable and the IRIC-Manifest partnership released new frameworks aimed at helping defined contribution plan sponsors evaluate and implement retirement income options as workers shift from saving to drawing down assets.
Equitable’s five-step fiduciary framework urges sponsors to compare guaranteed and non-guaranteed products on quantifiable measures including retirement outcomes, liquidity, income volatility, net-of-fee performance and simplicity.
IRIC and Manifest focused on a separate obstacle: fragmented retirement savings. Their report says $1.77 trillion sits in about 28 million lost or abandoned accounts, limiting effective lifetime-income planning.
Participants who consolidated accounts increased retirement savings by 36% over 10 years, the firms said, prompting recommendations that sponsors track consolidation features, adoption rates and provider handling of aggregated data.
The releases extend a broader industry push after IRIC and SPARK last month launched a separate framework to help fiduciaries compare defined contribution retirement income products.
Are new industry frameworks the real solution to the retirement crisis, or just shifting more risk and complexity onto savers?
With $2 trillion in lost 401(k)s, can new consolidation tools truly patch the holes in America's retirement safety net?
As 401(k)s add complex income products, how can retirees ensure they are buying security and not just higher fees?
Transforming Retirement Security in 2026: New Frameworks, Account Aggregation, and Fiduciary Best Practices for DC Plans
Overview
The modern retirement landscape is dominated by defined contribution (DC) plans, making it challenging for individuals to secure reliable income in retirement. To address this, organizations like the Institutional Retirement Income Council of America (IRIC) and Manifest have published new frameworks that guide plan sponsors and participants through the many available retirement income options. A key development is the Defined Contribution Retirement Income Solutions Framework, which provides standardized, side-by-side profiles of leading solutions, allowing for consistent comparison of features, costs, guarantees, liquidity, and portability. This approach helps simplify complex choices and supports better retirement outcomes.