BAM Alliance's Maurer echoed that sentiment.
"No one knows exactly what this new program is going to look like in the future," he said. "The government has changed the rules on Social Security, for example, so what's to stop them from diluting the benefits of this plan in the future? Why would I trade something I have in my possession for an unknown in the future?"
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Maurer said none of his clients have inquired about the new rule.
"That said, it's our job as planners to weigh all the options and that means that this new proposal should not be rejected without consideration," he added.
"Financial planners have an economic bias to encourage investors to take or keep lump sums as opposed to choosing pensions—because we can charge fees on the former, not the latter," Maurer added. "As fiduciaries, however, we have an obligation to our clients to review all of our clients' options, weigh the risks and benefits, and advise them accordingly."