An article from the June 2014 Employee Benefit Adviser reports that recent analysis by the Insured Retirement Institute (IRI) indicates an increase in the demand for annuities that offer guaranteed income for retirees. Annuities parcel out a set amount of retirement funds over time, much like the pensions plans that have quickly disappeared from the current retirement landscape used to do. According to the IRI analysis of data reported by Morningstar, Inc. and Beacon Research, the fixed and variable annuity sales in 2013 increased by 4.2% from 2012. An industry advisor featured in the article reports that employers sponsoring small and mid-size plans have been most receptive to including annuities but that interest has grown with larger retirement plans as well.
Does your Plan currently offer annuity products? Has your Plan’s investment advisor made the recommendation for you to include annuity products in your plan?