WASHINGTON – Following President Obama’s State of the Union Address in which he proposed a blueprint for an American economy built to last, the U.S. Departments of the Treasury and Labor today announced two executive actions designed to help enhance security for millions of Americans saving for retirement. The measures announced today will expand transparency in the 401(k) plan marketplace and broaden the availability of retirement plan options so Americans can maximize their ability to save responsibly and securely. indexed annuity
 
The Treasury Department’s proposal will reduce regulatory burdens and make it easier for retirees to choose to receive their benefits as a stream of income in regular payments for as long as they live. These flexible “lifetime income” options can provide greater certainty in retirement and minimize the risk of retirees outliving or underutilizing their retirement savings. equity indexed annuity
“When American workers take the responsible step of saving for retirement, we should do all we can to provide them with sensible, accessible choices for managing their hard-earned savings. Having the ability to choose from expanded options will help retirees and their families achieve both greater value and security,” said Treasury Secretary Tim Geithner.

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