In October 2026, the Bipartisan Policy Center published findings from two US roundtables on protected lifetime income in workplace retirement plans. The 29 October brief, produced following discussions convened with MetLife, Prudential and TIAA, identifies product complexity, fiduciary concerns, recordkeeper integration and portability as barriers. Participants considered defaults as a way to increase use, but differed on when they are appropriate. The brief reports stakeholder views and introduces no new rule.

Make the product work through a job change

A lifetime income feature can reduce the risk of outliving savings. The practical questions are which payments are guaranteed, by whom, what access the employee retains to capital and what happens if employment ends. Sponsors can ask recordkeepers and insurers to demonstrate what an employee sees before purchase, what happens when income starts and what options are available if the employee transfers assets. Include the effects of a recordkeeper change or plan merger.

Compare fees and liquidity alongside the guarantee. An option that meets the needs of one group of workers may not suit another, particularly where people have different sources of retirement income or need ready access to savings. The committee should record how it weighed those trade-offs and who will review the product and provider after launch.

Measure whether people use it

A feature’s presence in a plan says little about whether workers understand it or can access it. Track what employees receive at the point of decision, what they choose and where they abandon the process. Use that evidence to decide whether the communications, administration or design need to change. The goal is an income option people can understand and keep when their circumstances change.

Sources

Bipartisan Policy Center issue brief

Bipartisan Policy Center — Retirement Security index with publication date