Skip to content

Are defined contribution plan sponsors interested in offering in-plan annuities?


The vast majority of defined contribution (DC) plans have no in-plan option for generating lifetime-guaranteed income for retiring employees. In mid-2023, LIMRA surveyed DC plan sponsors in order to understand their perspectives regarding the in-plan annuity market today, and to identify opportunities for insurers and other stakeholders. Among the questions addressed in the study:

  • What are the characteristics of plan sponsors who offer in-plan annuities (IPAs) compared with those who do not offer IPAs?
  • Why do sponsors offer, or not offer, IPAs? Specifically, how important are factors such as cost, complexity, fiduciary concerns, or participant demand in offering IPAs?
  • What methods have employers used to assess whether to offer IPAs?
  • Is the decision to offer IPAs related to decisions about traditional defined benefit pension plans?
  • What proportion of participants elect to contribute to IPAs when offered – and do employers encourage them to do so?
  • Among those sponsors not now offering IPAs, what proportion are considering doing so, and when will they make their decisions?

No part of any report may be reproduced or translated without written permission from LIMRA. Please contact Customer Service for further information.

Related Research

Meet the Project Director

For more information, please contact

Did you accomplish the goal of your visit to our site?

Yes No