Unions Should All Pursue Supplemental Savings Plan

Unions Should All Pursue Supplemental Savings Plan

Commission-based annuity sales people (the sharks) are feverishly soliciting all of us in an attempt to sell us an annuity contract.

Just what is an annuity? It’s a contractual obligation of an insurance company to pay the purchaser of the annuity contract, the annuitant, a guaranteed monthly income during the lifetime of the annuitant.

Example: In return for a premium of $100,000, the Metropolitan Life Insurance Company will guarantee a 65-year-old a lifetime income of $6,240 per year, or $520 per month. You will receive roughly the same quote from all life-insurance companies.It’s unfortunate that of the eight public-sector retirement systems […]

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.