{"id":81,"date":"2009-05-04T08:49:00","date_gmt":"2009-05-04T13:49:00","guid":{"rendered":"http:\/\/www.annuityfyi.com\/blog\/?p=81"},"modified":"2023-02-15T06:19:19","modified_gmt":"2023-02-15T06:19:19","slug":"annuities-should-be-a-critical-part-of-401ks","status":"publish","type":"post","link":"https:\/\/www.annuityfyi.com\/blog\/2009\/05\/annuities-should-be-a-critical-part-of-401ks\/","title":{"rendered":"Annuities Should Be a Critical Part of 401(k)s"},"content":{"rendered":"<p>Brookings Institution in Washington is trying to persuade both employers and lawmakers that annuity products are critical to the future of <a title=\"401(k)\" href=\"https:\/\/www.annuityfyi.com\/retirement\/401k-rollover-right\/\" target=\"_blank\" rel=\"noopener\">401(k) plans<\/a>.&nbsp; One of the main proponents of this &#8220;annuity initiative&#8221; is J. Mark Iwry, President Obama&#8217;s new deputy assistant Treasury secretary for retirement and health policy; according to Mark Bruno of Investment News.<\/p>\n<p>Advocacy group The Retirement Security Project suggests that 401(k) participants be allowed to &#8220;test drive&#8221; <a title=\"Annuity Basics\" href=\"https:\/\/www.annuityfyi.com\/blog\/2012\/03\/basics-of-longevity-annuities\/\" target=\"_blank\" rel=\"noopener\">annuities<\/a> through different trial programs.&nbsp; There is also chatter that the government should back annuities such as FDIC insurance backs bank accounts.&nbsp; Iwry hopes that with these and other measures, making annuities part of 401(k) plans will help to increase the decline in equity markets.<\/p>\n<p>The Profit-Sharing\/401K Council of America claims that only 1\/5 of companies are offering annuities in their retirement plans.&nbsp; The perceived pricing and complexity have turned people off in the past.&nbsp; However, employers can receive great pricing from the providers of annuities simply by increasing the number of users.&nbsp; The Retirement Security Project&#8217;s plans for a trial program including <a title=\"Fixed Deferred Annuities\" href=\"https:\/\/www.annuityfyi.com\/fixed-annuities\/tax-deferred-annuities\/\" target=\"_blank\" rel=\"noopener\">deferred annuities<\/a> seem to make for a winning situation for all involved.&nbsp; Let&#8217;s hope that Iwry can get his &#8220;annuity initiative&#8221; to roll forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brookings Institution in Washington is trying to persuade both employers and lawmakers that annuity products are critical to the future of 401(k) plans.&nbsp; One of the main proponents of this &#8220;annuity initiative&#8221; is J. Mark Iwry, President Obama&#8217;s new deputy assistant Treasury secretary for retirement &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Annuities Should Be a Critical Part of 401(k)s\" class=\"read-more button\" href=\"https:\/\/www.annuityfyi.com\/blog\/2009\/05\/annuities-should-be-a-critical-part-of-401ks\/#more-81\" aria-label=\"Read more about Annuities Should Be a Critical Part of 401(k)s\">Read more<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34,252,88,122,164],"tags":[33,342,343,165,43,344],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts\/81"}],"collection":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/comments?post=81"}],"version-history":[{"count":3,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts\/81\/revisions"}],"predecessor-version":[{"id":27055,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/posts\/81\/revisions\/27055"}],"wp:attachment":[{"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/media?parent=81"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/categories?post=81"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.annuityfyi.com\/wp-json\/wp\/v2\/tags?post=81"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}