Employees have different needs, depending on their financial, health, and family situations—that’s why no single solution will fit all plans. That includes the two main types of retirement income strategies: Guaranteed income strategies and nonguaranteed income strategies.
Guaranteed income strategies
These strategies are intended to provide stable income for a set period of time or for life, and may protect retirees from investment risks, longevity risk, and decision-making risk. They include immediate and deferred income annuities, and the guaranteed minimum withdrawal benefit available with some variable annuities. The goal is to provide stable income for a set period of time or for life.*
* Annuity guarantees are subject to the claims-paying ability of the issuing insurance company.