“Defined contribution plans like 401(k) accounts are great at helping employees save for retirement, but they provide no guarantee of income as pensions do,” notes the author of today’s article. While private sector pension plans have largely disappeared, the author highlights a pension-style retirement product that offers guaranteed lifetime income, but which only recently has entered the mainstream of retirement planning: longevity income annuities (LIAs). How do LIAs work? Who are they best suited for? What should one look at when considering LIA plans? CLICK HERE to read more.
