Submitted by Anonymous on
Why does the Obama Administration seem to obsessed with offering annuities through employer-sponsored retirement plans?
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tom replied on Permalink
In Plan Annuities
I think they are concerned (rightfully, in my opinion) about people retiring with a pot of money from a 401k plan.
The challenge is that folks need to then become professional asset managers and figure out how to make this pot of dollars last the remainder of what could be a very long lifetime.
I think public policy folks and legislators want to find ways to turn portions of private assets into guaranteed streams of income.
james replied on Permalink
In Plan Annuities
I say no thanks.
Give me one example of a government policy decision that has actually enhanced the financial lives of Americans.
Why would things be any different with mandatory annuities in 401k plans?
tom replied on Permalink
In Plan Annuities
Fair enough.
That said, I think the intent of any potential legislation or policy initiatives would be to create incentives for people to consider annuitization rather than mandate it.