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Legislation Could Increase Use of Annuities in Retirement Plans
Legislation currently proposed in Congress would allow retirement plan sponsors to rely on state insurance department reviews as an alternative to determining if an annuity provider has the capacity to make future income payments. So reports Financial Advisor.
Many smaller plan sponsors lack sufficient resources to evaluate annuity providers, so the proposed bill, called “Increasing Access to a Secure Retirement Act,” would make it easier to offer the products as investment options.
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