Zorast WadiaZorast Wadia, Principal & Consulting Actuary, MillimanThe addition of annuity options to DC plans, investment strategies dealing with equity risk hedging and the creation of longevity plans have been proposed as solutions to the transfer of longevity and investment risk to participants. Of the three proposed solutions, perhaps the last one concerning longevity plans, offers the most promise. Some plan sponsors have started to offer annuity options within their DC plans to address participant longevity risk. However, plan participants have been wary about these offerings. Simpler product offerings with lower fees and more participant education about annuities are needed.The challenge for participants to manage withdrawals from their DC retirement still remains. To address longevity and investment risk, a new retirement paradigm is needed where a DC Plan and DB longevity plan can both coexist and complement one another. In order for the longevity DB plan to succeed, it will need ....