Is An Annuity Like A Pension?
The decline of traditional pensions and steady erosion of Social Security benefits has started to leave most retirees without a source of guaranteed lifetime income. Plugging that hole is emerging as the most important retirement issue of our day. According to a Black Rock retirement survey, 77% of retirees wish they had locked in a guaranteed income stream when they retired, and 86% say their employer should have helped them arrange one. When the Employee Retirement Income Security Act of 1974 (ERISA) was enacted, it...
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