The resurgence of providers in product development and marketing is brought on by increased interest of investors and opportunities, due to improving market conditions, to fund development of new products and services
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West Hartford, CT (PRWEB) June 3, 2010
"Retirement Income Market Overview," is the latest Market Monitor(SM) report offered by Retirement Research, Inc. (RRI), retirement services industry leader offering product profiles, current research and consulting services to the providers of retirement and retirement income products.
Retirement Income Markets Overview details the current state of retirement from provider, sponsor and participant perspectives, products and services available and in development to serve the market, and proposes where the market is likely to go over the near term.
Retirement has become far more diverse than leaving the workforce for a life of leisure. Research indicates that fully a third of the recently retired are, today, working full-time or looking for full-time employment. Current and prospective retirement product providers, investment providers, TPAs, financial planners, RIAs, and virtually all other distributors of retail or wholesale retirement income products will need the information included in this report to best meet the challenges of retiring baby boomers. In short, demand for these products is increasing and will continue to grow.
Ron Bush, Principal at RRI, points out that, "The reason retirement income related products have come to market so quickly and from every provider group is that they do provide solutions to the needs of multiple constituencies and the demand for Retirement Income solutions has never been greater. Providers must find ways to help workers understand and implement effective retirement strategies."
Retirement income is currently a very hot topic in both Congress and the Department of Labor, each holding hearings on the impacting issues. This report provides a comprehensive look at the current state of retirement income products, services, providers and distributors and where the industry is headed.
"The resurgence of providers in product development and marketing is brought on by increased interest of investors and opportunities, due to improving market conditions, to fund development of new products and services," adds Kent Novell, Principal at RRI.
Financial Institutions and Defined Contribution providers who have focused their efforts on helping employees save for retirement have a lot at stake. Very few participants keep their assets with their current Defined Contribution provider when they retire.
Cost, complexity, understanding and perception of annuity products and lack of ability to easily sell and communicate these new products are major barriers to reaching participants. These same factors, as well as concern over fiduciary responsibility and portability, are the primary factors as to why plan sponsors are still not embracing these products.
For more information or to see a preview of the report visit http://www.rricentral.com/reports.
About Retirement Research, Inc.:
Retirement Research, Inc. is focused exclusively on the retirement services industry, offering profiles of leading providers and products in the defined contribution market, a suite of interactive web-based competitive analysis tools covering products and investment platforms, topical research reports and research-based consulting services.
Founded in 1999, RRI assists insurance, investment, retirement service and distribution companies in addressing strategic issues, solving marketing problems, enhancing product capabilities, and improving distribution effectiveness through information products and consulting services. These include:
- 401(k) Vendor Profile Services
- 403(b) Vendor Profile Services
- RRI Market Monitor Reports
- Consulting Services
- Workshops and Management Briefs
- Market Research Services
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