Push for annuities gaining ground in challenging times - Tampa Bay Business Journal:

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“We think the structure of the plan is in the best interest of Americaqgoing forward,” said Gretchen Williams, a retiremen consultant and principal in the Cincinnatji office of . “But one of the things a lot of peoplw think is lacking is a good way for peoplse to take their account balances and efficientlgy drawthose down, like an at the end of their careers. I think this economy has highlighted the importanc of offering those guaranteed kinds of Retirement policy experts at the publisher an argument for the increased use of annuities in planslast June. That analysis became the starting point for a polic debatein Washington.
Amonv the ideas now being considerec is a federal insurance program to back annuities and the promotiomn of anew “default in which retirement plans woulxd automatically shift assets to a two-year trial annuityy to give consumers a flavor for how such plans woule work. “Evidence suggests … that the market for lifetime-incomde products functions poorly and that people do not understand and are biaserd againstthe products,” said the published by Brookings’ Retirement Security Project.