Overview
- SS&C says regulators, including the ERISA Advisory Council, are evaluating income defaults in QDIAs, and the firm recently testified on the topic.
- Middleware connectivity is expanding, with SS&C reporting some record keepers already live on its 15‑year platform and additional integrations underway.
- Adoption is described as moving forward as large record keepers build programs to turn 401(k)s into income plans, though Secure 2.0’s optional provisions are creating competing priorities.
- Fidelity and Empower launched retirement income suites in 2024, and industry speakers cite roughly 30 offerings from major asset managers.
- Advisors are urged to focus due diligence on simplicity, flexibility and portability, and fee transparency, with free training available through NAPA’s Retirement Income Certificate and Broadridge’s Retirement Income Consortium.