The Labor and Treasury Departments have issued a request for information to determine whether annuities belong in 401(k)s. Specifically, the agencies want to know the benefits and the drawbacks to receiving retirement income in installments.
Last week, President Obama’s Middle Class Task Force issued a fact sheet saying the administration is interested in promoting the “availability of annuities and other forms of guaranteed lifetime income which transform savings into guaranteed future income, reducing the risks that retirees will outlive their savings.”
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