Can an Annuity Act as Your Pension Plan?


by Jeff Reeves, USA Today,

April 21, 2016,

Retirement planning has changed a lot over the last few decades. And perhaps one of the most dramatic changes is the slow and steady death of employer-provided pensions.

According to Bureau of Labor Statistics data, only 10% of private employers offered defined benefit retirement plans in 2011 to cover just 18% of America’s private-sector workers. Just 20 years prior, back in 1981, more than 80% of private workers were covered.

The reason for the shift is simple: Pension plans are very costly for businesses. So, the private sector has largely transitioned to 401(k) plans for its workers instead — which has resulted in plenty of new challenges, including the need for Americans to take charge of their investments as well as the rate of their retirement savings.

Read the full article.

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