There has been significant interest among smaller and mid-size plans in reducing or suspending matching contributions due to the coronavirus pandemic's economic impacts.
Some retirement experts expressed surprise that the DOL's proposed exemption for fiduciaries included any expanded investor protections, but they also cautioned the changes lacked teeth.
The Midland National Capital Income annuity is aimed at helping clients plan for unexpected health events that impact their ability to perform daily activities, such as bathing, dressing or eating.
A recent study by J.D. Power found that unless 401(k) plan providers improve customer satisfaction quickly, they may end up losing large numbers of clients.