Annuitization Continues to be a Focus of Obama Administration
The Obama Administration continues to make annuities and other potential sources a guaranteed income a policy priority.
As described in a recent Bloomberg article, much of the concern seems to be related to the retirement plan damage caused by the financial crisis.
While recently recovered, average 401k balances took a major hit in 2008 and early 2009.
Bloomberg reports that the U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401ks and IRAs into annuities.
Source: Bloomberg
