"This educational tool provides valuable tips on using income annuities to meet the needs of retirees without adding burdensome costs and administrative headaches to company-sponsored retirement plans," said Chris Mayer, vice president of institutional annuities - retirement & investor services.
"Bridging the Income Gap with Annuities - A Plan Sponsor's Guide" is a 12-page brochure that explains the advantages of income annuities (and group pricing) for employees. Principal dispels the top five myths about income annuities, that they: are poor investments with high fees; eliminate control; provide no inflation protection; cause loss of residual value; and are tough for plan sponsors to offer and administer.
Group immediate annuities benefit from lower costs and group mortality factors, ultimately resulting in higher payouts for customers.
