An office worker on her laptop © Getty Images Adviser Joe DeNoyior believes the promise of a guaranteed income for life can be a game-changer for employees investing in 401(k) retirement accounts.
Yet the product best-positioned for the task — the annuity — comes with challenges that make it a tough fit for such defined contribution (DC) retirement plans. It is not just that an annuity can be costly and operationally complex; the product is also legendary for its jargon. Focused on mixing insurance with investments to guarantee returns, the annuity boasts contrasting features such as “death benefits” and “lifetime […]
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