GAO analyzes annuity options
Source
http://www.lifeandhealthinsurancenews.com/News/2011/6/Pages/GAO-Analyzes-Annuity-Options.aspx?k=gao
Date
Media Outlet
National Underwriter Life & Health
National Underwriter Life & Health
The Academy's September 2010 testimony to the U.S. departments of Labor and the Treasury on lifetime income options in retirement plans was cited in a new U.S. Government Accountability Office report on ensuring lifetime income throughout retirement. The actuaries wrote that pooling longevity risk, through a lifetime income arrangement, is more economically efficient than self-insuring that risk. If self-insuring, a retiree would need to accumulate substantially more in savings (as opposed to purchasing an annuity) to ensure that he or she did not outlive his or her assets.
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