Long Term Care
Submitted by tom on
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Annuity
An annuity comes in many forms, but a simple definition is that an annuity is a contract that converts a sum of money into a series of periodic payments for an agreed upon period of time. An annuity can be thought of as a financial vehicle that converts a pool of money into a stream of income. Annuities are most useful in addressing the financial planning needs of people in or approaching retirement. Annuities are unique in the financial world because they can provide protection against the risk or outliving one’s assets (longevity risk) by guaranteeing income payments in perpetuity or any other selected amount of time. Annuities can be viewed as a type of personal pension plan. Social Security is similar to an annuity in that money contributed over the course of one’s working years is converted into a series of periodic payments that provide income during retirement.
Annuities and Other Forms of Guaranteed Income are Priorities for the Obama Administration
Much has been written over the past couple of weeks about the Obama Administration's support of annuities.
The New York Times ran a story about the "unloved annuity getting a hug from Obama."
Bloomberg featured an article in its personal finance section describing the potential, the pitfalls and the overall industry enthusiasm surrounding in-plan annuities.
The federal government has posted a...
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Federal Government Requests Advice on Use of Annuities in Retirement Plans
A handfull of federal agencies have posted a request in the Federal Register. The agencies are requesting information and advice on the use of annuities and other lifetime income products in employer sponsored retirement plans such as 401ks. Comments are due May 3. The interest stems from the prevalence of defined contribution retirement plans such as 401ks and the fact that most participants in these retirement plans distribute their savings in the form of a lump sum rather than a stream of...
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Inflation and Fixed Indexed Annuities
Submitted by tom on
This forum thread is a continuation of a conversation that began as a comment and can be found here:
The comment came from Phillip Hawley and is as follows:
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In Plan Annuities
Submitted by Anonymous on
Why does the Obama Administration seem to obsessed with offering annuities through employer-sponsored retirement plans?
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