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How solid is your 401(k)? New tools could boost savings, spending.

Christopher Yarborough by Christopher Yarborough
May 5, 2025
in Business, Economics, Retirement, Uncategorized
good 401(k)?

Not every 401(k) plan delivers the same level of retirement savings options yet some plans stand out from others. Some plans have received praise because of their exceptional features. What makes a 401(k) better than other plans? The gold standard in plan design is being transformed by innovative advancements according to experts.

Retirement Income Solutions

The disappearance of traditional pensions has led Deana Calvelli of NFP to observe increasing employee interest in lifetime-income solutions. These programs deliver continuous payments to retirees which helps them maintain financial security beyond their retirement savings. She emphasized that people desire continuous paychecks because of longer life expectancy. “We’re seeing exciting developments here.”

The Tennessee Valley Authority Retirement System received recognition from Pensions & Investments after implementing its innovative approach. BlackRock’s LifePath Paycheck target-date fund became part of their 401(k) plan which includes a built-in life-income guarantee option. The implementation of these features requires complex procedures from employers who need multiple years to complete the process according to Calvelli.

The main challenge employers face is establishing an organized method to evaluate in-plan annuities according to Robert Massa who serves as managing director at Qualified Plan Advisors. The main barriers to adoption include expensive costs and employee preferences for lump-sum payments. Massa and Calvelli both emphasize that sustainable retirement income holds the most value.

The future holds potential developments in the field of retirement planning. Nuveen (part of TIAA) continues to improve the portability of its income products according to Calvelli. Prepackaged solutions that combine expertise from multiple asset managers have started to become more popular in the market. Massa predicts that retiring workers will access an annuity marketplace in the future.

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