What You Need to Know
The new product will give 401(k) and 403(b) participants the ability to annuitize their retirement savings.
Growing interest in guaranteed income in retirement was a key reason that Fidelity will offer this product. The Secure Act has reduced the risk for employers and made it easier for them to provide annuities as a retirement plan option. Fidelity Investments, which has $11.1 trillion in assets under administration, announced Thursday that it was launching Guaranteed Income Direct in 2022, giving 401(k) and 403(b) plan participants the ability to annuitize their retirement savings.The company says it has […]
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