Signs of accelerating interest in retirement income are everywhere. Headlines, press releases, industry conference sessions, white papers, boot camps, and product launches are more likely to reference retirement income than ever. Demand is apparent even to the naked eye.

Yet naysayers offer a contradictory position. They eschew survey data and claim no plan sponsor or participant demand exists.

These disparate positions trigger two questions: (1) who is right? And (2) is that even the right question? After all, when retirement plan decision-makers and policy experts look to innovate, are they guided by what participants are specifically asking for at any given time? Or do they look to participant needs and then develop and implement responsive solutions? The answer is pretty clear: when making decisions regarding retirement plan features, products, and other solutions, participant needs trump any deference to their stated demands.

The rise in demand occurs against a backdrop of worry. American workers are concerned about running out of money in retirement. That concern has risen to the point that they are less worried about death than running out of money.