Proposed Legislation Should Boost Retirement Annuity Sales

Proposed legislation could help encourage your clients to consider rolling over 401 (k) plans into retirement annuities. The legislation, Senate bill 2832, would amend the Employee Retirement Income Security Act of 1974, to focus greater awareness on lifetime income retirement planning... Under the bill, sponsors of 401 (k) plans and other private defined contribution plans would be required to show annually, on one pension benefit statement, how the value of retirement accounts translates into guaranteed monthly payments. The bill, introduced on Dec. 3, would require calculation of payments, based on such factors as age at retirement...

Registered Rep: Proposed Legislation Should Boost Retirement Annuity Sales