Obama Keeps Retirement Policy Crowd In Suspense

President Obama did not end up promoting annuities during the State of the Union address, but his administration seems to be preparing to support the income planning concept.

Administration officials raised the annuity industry's hopes about the address Monday, when they held a Middle Class Task Force meeting a release a fact sheet calling for the government to promote "the availability of annuities and other forms of guaranteed lifetime income, which transform savings into guaranteed future income."

The fact sheet drafters also proposed creating a new system of automatic individual retirement accounts for workers who do not have employer-sponsored retirement plans, and they recommended steps such as giving employers and plan participants more detailed, easier-to-understand information about 401(k) plan fees...

Life and Health News: Obama Keeps Retirement Policy Crowd In Suspense