What’s next for retirement income security?
December 17, 2024 by Doug Bailey
When President Gerald Ford signed the Employee Retirement Income Security Act of 1974, it marked a revolutionary overhaul of employer-sponsored retirement plans. Before ERISA, employers and unions decided how employee benefit plans were designed and run. There were no minimum standards, leading to serious abuses and corruption. ERISA federalized private pension plans and made worker security a top congressional priority.
Click HERE to read the full story via INN
Wink’s Moore on the Market: Interesting quote:
“I personally think that straight-life annuities, things that are not fixed-index annuities, or variable annuities, are very useful products and benefit a lot of people,” said Norman Stein in an InsuranceNewsNet article.
Well, for one- income annuities do not sell much.
Last quarter, they accounted for 3.7% of the $115 billion in annuities sold.
Secondly- straight-life payout options on income annuities sell even less.
By contrast, indexed annuities accounted for 32.0% of that $115 billion.
And variable annuities are 13.1% of that same market.
So, I would suggest that indexed annuities and variable annuities “benefit a lot of people;” more so than straight-life annuities. -sjm
