Lifetime income decisions are made along the continuum of “guaranty” and “optionality”.  Neither one is always right or always inappropriate.  A lifetime “guaranty” payout under a fixed annuity can and sometimes should play a role, alone or in conjunction with, a well-diversified, risk appropriate and managed portfolio that allows optionality.  Annuity, as a form of lifetime income IN-PLAN solution, will, however, not likely catch on until DOL issues safe harbors for selecting, offering and monitoring annuities IN-PLAN.

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