Vestwell will offer plan sponsors, starting in 2025, access to the TIAA Secure Income Account, a guaranteed lifetime income product for defined contribution plans. Never miss a story — sign up for ...

Vestwell is adding its first lifetime income option for 401(k) and 403(b) clients next year, a TIAA product that pairs annuities with a target-date series, the companies announced today.

DES MOINES, Iowa, July 10, 2024--Principal has launched a new annuity that ensures individuals have a secure source of guaranteed income in retirement regardless how long they live.

Adding guaranteed lifetime income options to workers’ 401(k) plans is one practical and much-needed solution. Stickrod stresses, “The question now isn't whether to offer these solutions — it ...

That desire for lifetime income was evident in annuity sales for all of 2024, which increased 12% year-over-year to $432.4 billion, according to LIMRA. It marked the third-year in a row of record ...

This allows income to accumulate from the income start date and the ability to add money at any time 3. “Delaware Life is continuously reviewing its products to help ensure they meet both the ...

A lifetime income annuity plan, however, ... You can add features, as well, that protect your beneficiaries, and can add an inflation-based increase option, as well.

Freely predicted that, if state and federal governments fail to act, workers' income planning gap will add $1.3 trillion to U.S. state and federal government benefits spending in 2040, according ...

Key Takeaways. Flexible in-retirement portfolio spending strategies result in the highest lifetime withdrawals. Static withdrawal systems do a good job of leaving a high amount of assets left over ...

Christopher Stickrod, head of Retirement Product at TIAA, adds, ... Adding guaranteed lifetime income options to workers’ 401(k) plans is one practical and much-needed solution.