Concerns about the possibility of outliving retirement savings have led to increased interest in retirement income options. In response, the National Association of Plan Advisors (NAPA) has launched a new certificate program designed for retirement advisors. This program, called the Retirement Income for 401(k) Plans Certificate (RI(k)), aims to help advisors evaluate, explain, and implement retirement income solutions for their clients.
A recent survey conducted by J.P. Morgan Asset Management found that over 80% of retirement plan sponsors feel strongly about assisting participants in generating retirement income. Additionally, nine out of ten agree that it’s crucial to offer investments that help participants generate income during retirement.
The RI(k) certificate program consists of five interactive modules, allowing plan advisors to familiarize themselves with various retirement income solutions and understand the risks they address. Advisors will also learn how to implement these solutions effectively with both plan sponsors and participants.
Brian Graff, CEO of the American Retirement Association (ARA) and Executive Director of NAPA, highlighted the importance of retirement income solutions in filling the gap between 401(k) plans and true retirement plans. The RI(k) program aims to provide plan advisors with the necessary tools to enable plan sponsors and participants to utilize these solutions effectively.
