It’s well-documented that most employees don’t have sufficient retirement plan account balances, nor do most employees understand the long-term costs of retirement.  The key challenge is that almost none of us know how long we will live after retirement.  Some will live 5 to 10 years, others will live 30 to 40 years, or more.  For many, this delays the decision to retire.

Imagine a 65-year-old employee losing interest and productivity in their job.  Based on family history, this employee believes he/she could easily live past age 90 but only has modest retirement plan savings and no pension.  This employee could reach age 70, then 75, and still be on the job for financial reasons.  This scenario is a growing problem for many employers.

At ANNUA, we believe Accumulation Annuities within 401(k)/403(b) plans can be part of the solution to this workforce dilemma.  Accumulation Annuities can create pension-like income to supplement Social Security for your employees, creating a broader safety net from which to make their retirement decisions.  Best of all, Accumulation Annuities do not have to create additional costs or liabilities for your organization.

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