Treasury Green Lights Longevity Annuities In 401(k)s and IRAs
According to a recent Forbes Article:
More employees should be seeing longevity annuities in their 401(k) line-up, thanks to final rules announced by the Treasury Department’s J. Mark Iwry today. The rules are technical but the gist is that employees will now be able to convert part of their 401(k) or Individual Retirement Account balances into a longevity annuity with guaranteed lifetime payouts.