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White Paper

Retirement Income Beliefs: A Roadmap to Optimal SolutionsRetirementIncomeBeliefs:ARoadmaptoOptimalSolutions

Nov 1, 2021

5 mins

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The Defined Contribution (DC) industry is about to see a major secular shift towards the delivery of income as participants start approaching retirement in greater numbers. This shift will be transformative for the DC landscape over the longer term.

At PGIM, we believe a comprehensive approach to income requires new thinking and new solutions, deployed in a personalized and flexible way. Bringing lifetime income solutions to American workers and retirees will require a thoughtful, outcomes-based framework. Specifically, we believe a solution must go beyond just an investment product. It must also help participants prepare for retirement and help retirees implement a sustainable spending plan in retirement. This brings us to our key retirement income beliefs:

  1. An investment methodology is needed that specifically solves for individuals’ unique spend down goals in retirement.
  2. Additional asset classes should be incorporated in the asset allocation strategy to help retirees manage spend-down risks.
  3. Available guaranteed income sources should be considered as part of the asset allocation process and optimized to help retirees manage the core risk of outliving their savings.
  4. An institutional investment approach that leverages the scale and fiduciary oversight offered by DC plans is critical to efficiently building wealth and delivering income.
  5. Technology is central to delivering personalized advice and solutions by combining our first four retirement income beliefs to address each individual’s particular situation.
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PGIM DC Solutions LLC ("PGIM DC Solutions") is an SEC-registered investment adviser, a Delaware limited liability company, and an indirect wholly-owned subsidiary of PGIM, Inc. ("PGIM"), the principal asset management business of Prudential Financial, Inc. ("PFI") of the United States of America. Registration with the SEC does not imply a certain level of skill or training. PFI of the United States is not affiliated in any manner with Prudential plc incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.

The content and materials presented here are for informational, illustrative and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence. The information presented is not a recommendation about managing or investing retirement savings and does not take into account individual investment objectives or financial situations.

PGIM DC Solutions aims to help participants achieve their retirement goals through their suite of “PGIM RetireWell™” solutions. These solutions may include a range of investment options including target date portfolios, retirement income strategies, and managed accounts that can be coupled with our proprietary advice engine. There is no guarantee that investment or retirement goals will be achieved.  Use of the term “RetireWell” and any related phrase is not intended to indicate that such- goals will be achieved.

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