PLANADVISER - September/October 2022 - 28
beyond 401(k) / national conference
in retirement, and income may need to, as well.
Benartzi, along with George P. Fraser, managing director
at the Fraser Group, Retirement Benefits Group, and Michelle
Richter, executive director of the Institutional Retirement
Income Council, outlined details of Benartzi's new program
Pension Plus, which uses data available from a plan's recordkeeper,
plus a short one-on-one interview to personalize a
saver's decumulation plan and create a retirement paycheck.
" For the average American, it gives people the ability to
know what their [weekly, bi-weekly or monthly] check will
look like, " said Fraser.
Richter stressed that personalization, or " the need
to understand the human, " is a key difference between
the participant's asset accumulation phase of retirement
planning and the retiree's decumulation phase.
While systems that assume the most popular plan options
for all, as is common with auto-features, work well on the
accumulation side of retirement plans, those same assumptions
would end in results appropriate for only 4% of people in
decumulation, Benartzi said.
Using as examples a man and a woman having the same
age, retirement account balance and self-assessment of their
health as " good, " Benartzi demonstrated the tool and how
giving different answers to the questions would result in
vastly different retirement paychecks. In the example, one
person's set of answers produced a monthly paycheck of
$4,959, while the other's was $761. " This is personalization in
action, " he said. -Amy Resnick
CLOCKWISE, FROM TOP LEFT: The 2022 PLANADVISER National Conference
opening night dinner. Vote taking in the Busting Great
Resignation Myths session. Time between conference sessions,
at the Westin Kierland Resort. From left: Rebecca Moore, ISS
Media, moderator of " Participant Mindsets and Communication
Strategies " ; Kelley Palmer, John Hancock; and Sean Kelly,
Heffernan Financial Services. From left: Brea Dantin, ProCourse
Fiduciary Advisors LLC, moderator of " Health, Wealth and Retirement " ;
Kevin Takinen, Sequoia Consulting Group; and Chris
Ceder, Goldman Sachs Asset Management. Guest speaker and
humorist Dave Barry.
28 | planadviser.com September-October 2022
http://www.planadviser.com
PLANADVISER - September/October 2022
Table of Contents for the Digital Edition of PLANADVISER - September/October 2022
The Possibilities Ahead
The Full Potential
2022 PLANADVISER National Conference
NQDC Investment Menus
Reg BI’s Impact on 403(b)s
PEPs’ Slow Growth
Scaling for the Future
Rollover Rules for 457(b) Plans
Jorge Bernal
PLANADVISER - September/October 2022 - Cover1
PLANADVISER - September/October 2022 - Cover2
PLANADVISER - September/October 2022 - 1
PLANADVISER - September/October 2022 - 2
PLANADVISER - September/October 2022 - 3
PLANADVISER - September/October 2022 - 4
PLANADVISER - September/October 2022 - 5
PLANADVISER - September/October 2022 - 6
PLANADVISER - September/October 2022 - 7
PLANADVISER - September/October 2022 - 8
PLANADVISER - September/October 2022 - 9
PLANADVISER - September/October 2022 - 10
PLANADVISER - September/October 2022 - 11
PLANADVISER - September/October 2022 - 12
PLANADVISER - September/October 2022 - 13
PLANADVISER - September/October 2022 - 14
PLANADVISER - September/October 2022 - 15
PLANADVISER - September/October 2022 - The Possibilities Ahead
PLANADVISER - September/October 2022 - 17
PLANADVISER - September/October 2022 - 18
PLANADVISER - September/October 2022 - 19
PLANADVISER - September/October 2022 - 20
PLANADVISER - September/October 2022 - 21
PLANADVISER - September/October 2022 - The Full Potential
PLANADVISER - September/October 2022 - 23
PLANADVISER - September/October 2022 - 24
PLANADVISER - September/October 2022 - 25
PLANADVISER - September/October 2022 - 2022 PLANADVISER National Conference
PLANADVISER - September/October 2022 - 27
PLANADVISER - September/October 2022 - 28
PLANADVISER - September/October 2022 - 29
PLANADVISER - September/October 2022 - NQDC Investment Menus
PLANADVISER - September/October 2022 - 31
PLANADVISER - September/October 2022 - Reg BI’s Impact on 403(b)s
PLANADVISER - September/October 2022 - 33
PLANADVISER - September/October 2022 - PEPs’ Slow Growth
PLANADVISER - September/October 2022 - 35
PLANADVISER - September/October 2022 - Scaling for the Future
PLANADVISER - September/October 2022 - 37
PLANADVISER - September/October 2022 - 38
PLANADVISER - September/October 2022 - Rollover Rules for 457(b) Plans
PLANADVISER - September/October 2022 - Jorge Bernal
PLANADVISER - September/October 2022 - Cover3
PLANADVISER - September/October 2022 - Cover4
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