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The Unloved Annuity Gets a Hug From Obama
By RON LIEBER
Published: January 29, 2010
Annuities: The official retirement vehicle of the Obama administration. As slogans go, it’s hardly “Keep Hope Alive,” or even “Change We Can Believe In.”
But there were annuities, in a report from the administration’s Middle Class Task Force that came out this week. They are among the tools the administration is promoting as it tries to give Americans a better shot at a more secure retirement.
"The Obama Administration is...Promoting the availability of annuities and other forms of guaranteed lifetime income, which transform savings into guaranteed future income, reducing the risks that retirees will outlive their savings or that their retirees' living standards will be eroded by investment losses or inflation."
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