A New Opening For Annuities

A New Opening For Annuities

Straight from the IRS:: Under the new IRS guidance, a target date fund may include annuities allowing payments, beginning either immediately after retirement or at a later time, as part of its fixed income investments, even if the funds containing the annuities are limited to employees over a specified age.  The guidance makes clear that plans have the option to offer target date funds that include such annuity contracts either as a default or as a regular investment alternative.

 

The new policy change is another step reflecting the continuing commitment of the Administration to work in a variety of ways to further bolster retirement security and saving.

 

Torrid Tech Explains:  This means that the employer plans have the flexibility to offer the annuity as an option or as a default when employees save into their 401(k) plan.

 

http://blog.insurancenewsnet.com/2014/10/24/new-opening-annuities/#.VFk-2RY_lEs

Afraid you may outlive your savings; tried giving annuity options a try? Share your feedback. We’d love to hear from you!

IRS, Treasury Support Annuities Use in 401(k) Plans

IRS, Treasury Support Annuities Use in 401(k) Plans

Straight from the IRS: The new guidance or policy provides plan sponsors an additional option to make it easier for employees to consider using lifetime income.  Instead of having to devote all of their account balance to annuities, employees use a portion of their savings to purchase guaranteed income for life while retaining other savings in other investments.

 

How to use this info to your benefit?

 

Torrid Tech Explains: This means the employee can choose to put some into annuities for lifetime income and still also have savings in other investments like mutual funds.

[Old Link Removed]

Afraid you may outlive your savings; tried giving annuity options a try? What’s been your experience with using part of your savings for guaranteed lifetime income while using another portion for other investments? Share your feedback. We’d love to hear from you!

New IRS 401(k) ruling aims to boost retirement income

New IRS 401(k) ruling aims to boost retirement income

Straight from the IRS: Designed to expand the use of income annuities in 401(k) plans, IRS new change makes clear that plan sponsors can include deferred income annuities in target date funds used as a default investment.

 

Your new options?

 

Torrid Tech Explains: Employees saving in their 401(k) plan at work can choose annuities from insurance companies inside their 401(k) plan so they can reduce market losses on their retirement savings by putting their savings into annuities, instead of mutual funds or target date funds.

 

http://www.marketwatch.com/story/irs-401k-ruling-aims-to-boost-retirement-income-2014-10-[Old Link Removed]

 

Afraid you may outlive your savings? Have youtried giving annuity options a try? What’s been your experience with putting your savings into annuities? Share your feedback. We’d love to hear from you!

Welcome to our Retirement Community

Welcome to our Retirement Community!

Torrid Technologies is starting this blog community to provide a place for our customers and the general public to discuss issues related to retirement and investing.

Some of the topics we want people to discuss in this community include:

  • 401(k) Plans (sometimes abbreviated 401k Plans)
  • 72(t) plans filed with the IRS
  • Annuity
  • Annuities
  • Fiduciary Responsibilities
  • Field Marketing Organizations (FMOs or MOs)
  • Fixed Index Annuities
  • Investing for Retirement
  • Life Insurance
  • News related to retirement
  • Pensions and Defined Benefit Plans
  • Registered Investment Advisors (RIAs)
  • Required Minimum Distributions (RMDs)
  • Retirement news
  • Retirement living
  • Retirement Portfolios
  • Retirement Planning
  • Retirement Software
  • Reverse Mortgages
  • Social Security
  • Term Life Insurance
  • Universal Life Insurance
  • Variable Annuities
  • Whole Life Insurance
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