New IRS 401(k) ruling aims to boost retirement income

November 10, 2014 by Miji Pearse | Leave a Comment

New IRS 401(k) ruling aims to boost retirement income

Straight from the IRS: Designed to expand the use of income annuities in 401(k) plans, IRS new change makes clear that plan sponsors can include deferred income annuities in target date funds used as a default investment.

 

Your new options?

 

Torrid Tech Explains: Employees saving in their 401(k) plan at work can choose annuities from insurance companies inside their 401(k) plan so they can reduce market losses on their retirement savings by putting their savings into annuities, instead of mutual funds or target date funds.

 

http://www.marketwatch.com/story/irs-401k-ruling-aims-to-boost-retirement-income-2014-10-29

 

Afraid you may outlive your savings? Have youtried giving annuity options a try? What’s been your experience with putting your savings into annuities? Share your feedback. We’d love to hear from you!