Traditionally, employees who took part in an employer-sponsored retirement plan, or pension, had just two choices when it came to disbursement: a lump-sum payout or a monthly pension/annuity. Recently, the Internal Revenue Service (IRS) and the Treasury Department helped create a third option, allowing retirees …
Insurance regulators in the state of New York are holding four hearings to determine if they need to add more regulations for life insurance and annuity contract sales, as written by Jonathan D. Epstein of the Buffalo News. The article, “Insurance Department mulls more oversight”, …
The Retirement Security Needs Lifetime Pay Act, or H.R. 2748, was introduced this week by Rep. Earl Pomeroy (D-N.D.) and Rep. Ginny Brown-Waite (R-FL). This news comes from “Bill would let seniors take retirement funds through annuity” by Darla Mercado of InvestmentNews. Basically, retirees could …
Brookings Institution in Washington is trying to persuade both employers and lawmakers that annuity products are critical to the future of 401(k) plans. One of the main proponents of this “annuity initiative” is J. Mark Iwry, President Obama’s new deputy assistant Treasury secretary for retirement …
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