A Q&A with Scott Colangelo, chairman and managing partner of Prime Capital Investment Advisors and the creator of Qualified Plan Advisors. How do you define “guaranteed income” within 401k plans?
There are two options: in-plan and out-of-plan guaranteed income. The in-plan solutions mean the guarantee is there as long as the money stays in the plan. The out-of-plan solutions allow an individual who has retired to move a certain amount to an annuity outside the plan to get a guarantee. I’m not particularly a fan of the out-of-plan solutions because they’re essentially repackaging retail annuities already available in […]
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