As the Senior Retirement Strategist, Glenn Dial is responsible for overseeing the firm’s strategic planning for the US-defined contribution (DC) channel, which is responsible for Investment Strategies, Thought Leadership, and Tools to help develop customized solutions for retirement plan intermediaries and their clients.

In this episode, Eric and Glenn Dial discuss:

• Surveying employees about lifetime income
• The next step in investigating 
• Control Versus Maximizing Income
• The unavoidable drawback 

Key Takeaways:

• Give out a simple employee survey asking a few questions centered around guaranteed lifetime income, and if they are interested in getting that for themselves. Insurance products can get a little complex, so ask some follow-up questions to determine what direction you should go with that individual. 
• Do your due diligence, whether you are an advisor or a plan sponsor. Look at the products that are available and figure out which products are a good fit for your employee population based on their wants, needs, and demographics. 
• An insurance product either provides control for policyholders or maximizes income at the cost of the policy holder yielding control of the assets to the company. If you know the answer to where a product sits in those two categories, then you’ll know just about everything else about that product. 
• While it is possible to technically get some liquidity while still having a higher guaranteed income, the liquidity gained will not be very ideal. For example, if you’d like to change your mind, they might give only a small portion of the capital back. 

“Think about Income America as a way to ensure your target date fund the same way you'd buy homeowners insurance to insure your house - you insure [them] against catastrophic events.” - Glenn Dial

Connect with Glenn Dial:

LinkedIn: https://www.linkedin.com/in/glenndial/ 

Email: [email protected] 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

LinkedIn: https://www.linkedin.com/in/401kguy/ 

The information contained herein is general in nature and is provided solely for educational and informational purposes.

It is not intended to provide a specific recommendation of any type of product or service discussed in this presentation or to provide any warranties, financial advice or legal advice.

The specific facts and circumstance of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan specific circumstances.