Asked how interested they would be in putting some or all of their retirement plan savings into a guaranteed income option, 28 percent say they're very interested and 52 percent are somewhat interested. (Photo: Shutterstock)
Workers who have defined contribution, not defined benefit, plans are interested in annuities, although some are hesitant. According to an Insurance News Net report, employers share their hesitation.
According to the report, the 2018 Retirement Confidence Survey from the Employee Benefits Research Institute and Greenwald & Associates finds that while 80 percent of plan participants are interested in putting some or all of their money into annuities, those who are close to retirement or who have already retired, and who have a pension rather than a 401(k) or other DC plan, aren't quite so ready to jump in.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
