Interest in guaranteed lifetime income options in defined contribution (DC) plans is growing after the latest market downturn caused by the COVID-19 pandemic.
Research from Allianz Life found 77% of workers currently enrolled in an employer-sponsored plan would consider adding an option that offers guaranteed lifetime income, and 59% said they would specifically consider adding an annuity feature. Sixty-one percent of respondents said they are looking for more information on how annuities can be part of their plan.
Additionally, a recent Secure Retirement Institute (SRI) study found more than half of workers would be interested in a guaranteed lifetime income […]
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