As new generations of American workers plan for their future retirement, there is an increasing focus on fixed income solutions that provide a combination of enhanced financial stability and guaranteed, lifetime income.

That trend recently gained validation when The SECURE Act became law January 1, 2020. The legislation, passed by Congress and signed into law in December 2019, made wide-ranging changes to retirement law.

The law expands access to lower cost “safe harbor” 401(k) plans among small and mediumsize businesses, but a key provision focuses on fixed income alternatives with 401(k) investment sub-accounts. For the first time, individuals will now be allowed to allocate contributions to a suite of annuity products.

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