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LIMRA Study Predicts the In-Plan Annuity Market Will Grow Exponentially Over the Next 2 Years

By LIMRA on Mar 24, 2023 3:29:51 PM

LIMRA Research Head explains the growing market opportunity for in-plan guarantees and the role of education.

Following the recent passing of the SECURE Act 2.0, the financial services industry expects greater adoption of in-plan guarantees in late 2023 and 2024. In-plan guarantees are plan designs offered by employers that can convert retirement savings into a stream of guaranteed income payments during retirement. Designs of in-plan guarantees include annuities inside a target date fund (TDF), a stand-alone annuity product, and annuity options outside of the plan but linked to it. Educating advisors, plan sponsors, and employees on the value of in-plan annuities will affect their acceptance.

Topics: Diverse Markets Life Insurance & Annuities Group & Employee Benefits Research/Trends LIMRA

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