“Social Security provides the crucial bedrock foundation for financial security in retirement,” said J. Mark Iwry, senior advisor to the Secretary of the Treasury and deputy assistant secretary for retirement and health policy. “But it’s not intended to do the whole job.” One solution is longevity insurance where an annuity could provide annual income of 6% or 7%, rather than 4%. IRAs and 401(k)s are precluded from offering longevity insurance by required minimum distribution rules. The federal government proposed to amend those rules to accommodate offering longevity annuities. Another hope for the proposal is to make retirement decisions easier. “Simplify the process, encouraging more options, more transparency, and better disclosure should ultimately make it easier for people to understand their choices and bring costs down,” Iwry said.
ThinkAdvisor's TechCenter is an educational resource designed to give you a competitive edge by keeping you abreast of new tech innovations and need-to-know information that can be applied to your business.
A survey of advisors nationwide reveals how the use of ETFs is expanding and what factors are likely to further support this trend.
Your resource for news, research and analysis to help you deliver more effective outcomes to your clients.
3 Differences Between Life Insurance and Roth IRAs
Are you still submitting paper applications on behalf of your insurance clients? It‘s time to go digital or risk going extinct.
What your female clients need to know about long-term care.
Dec 12, 2017
Join this webcast to see how Trisha Qualy, Director of Wealth Management at AdvisorNet Financial, took client assets from $100 million to $1.3 billion in...
Nov 15, 2017
Join this complimentary webcast to learn innovative strategies that have proven effective in containing rising health costs.
Nov 02, 2017
Join this conversation as a panel of experts provides tips and best practices to optimize your tech resources for business growth.