Lifetime Income Impact of the SECURE Act

  • 12 Aug 2021
  • 12:00 PM - 1:00 PM
  • VIA ZOOM - https://us02web.zoom.us/j/83590044556
  • 42

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With a decades-long shift from guaranteed income for life defined benefit plans to defined contribution plans that typically provide a lump sum benefit, retirees are faced with difficulty managing retirement income.  Many retirees are not prepared to make investment decisions to guarantee their retirement savings will last their lifetime. To address this challenge, the SECURE Act

  • requires benefit statements disclose the “lifetime income stream equivalent of the total benefits accrued”
  • provides safe harbor protection for fiduciary selection of a “guaranteed lifetime income contract”
  • provides for “portability of lifetime income products”

Join us as Chuck Rolph of Nationwide’s Advanced Consulting Group shares insight on how plan sponsors can provide lifetime income solutions to help participants be better prepared to invest for financial security in retirement.

This meeting has been applied for 1 ASPPA, 1 ERPA and 1 JBEA NON CORE credits.

About our speaker:

Chuck works with financial advisors who specialize in retirement plans to help them: (i) prevent and solve problems related to their clients’ plans; and (ii) capitalize on opportunities found in the laws and regulations governing employee benefit plans. In working with his advisors on their clients’ problems and opportunities, Chuck blends planning, investment, and fiduciary elements to create a unique solution for each situation.

Chuck started his financial services career in 1977 with a major life insurance company in Des Moines, Iowa. He joined Nationwide’s Advanced Consulting Group in 2010, where he supports the sales and service efforts of the retirement plans division. From his start until joining Nationwide, he spent eight years working as Vice President and General Counsel of an Indianapolis-based actuarial and employee benefits consulting firm, five years with an Indianapolis life insurance company, and 17 years as a practicing ERISA attorney in Indianapolis. During his 17 years as a private practice ERISA attorney in Indianapolis, Chuck was recognized in the publication Best Lawyers in America from 2005 - 2010 and was rated A-V (Preeminent) by the lawyer rating firm of MartindaleHubbell.

He holds a Juris Doctor (JD) degree from the University of Nebraska and a Master of Science in Financial Services (MSFS) degree from The American College. Chuck actively maintains two professional designations: (i) Certified Financial Planner® (CFP®); and (ii) Accredited Investment Fiduciary® (AIF®).

In his focus of helping financial advisors achieve greater success with their clients through the effective use of employee benefit plans, Chuck is inspired by the words of General Colin Powell: “Success is the result of perfection, hard work, learning from failure, loyalty, and persistence.” 

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