According to Vanguard, "Prospective purchasers can obtain customized quotes on a real-time basis and evaluate competitively priced, directly comparable contracts frommultiple companies." Direct contribution plan participants ready to retire will be able to use Vanguard Annuity Access as an IRA rollover option. This is in lieu of offering the option within the plan; plan sponsors are concerned that such an "in-plan" offering may increase fiduciary responsibility and add complexity to the plan.
Fixed deferred annuities are also available through Vanguard Annuity Access; fixed interest durations will vary from three to seven years. Such investments "are designed for tax-sensitive investors" who want to supplement existing retirement savings, which may include IRAs or 401(k)s.