Offering annuities as part of defined contribution retirement plans such as 401(k)s is starting to spark some interest in guaranteed lifetime income. Financial advisors have started to discuss the benefits and drawbacks of annuities since its beginning in 2019 with the SECURE Act.
“The tax deferral is redundant,” acknowledges Christopher Van Buren, a private wealth advisor at LVW Advisors. “But the other benefits [of annuities]—such as guaranteed income—are very attractive.”
To read more about annuities in 401(k)s, visit: https://www.fa-mag.com/news/when-annuities-came-to-401-k-s-70343.html?section=2