Treasury Eases Rules on Annuities

Aims to make lifetime income more available in pension plans and 401(k)s.

The U.S. Treasury Department will help expand the availability of annuities and lifetime income choices in retirement plans, the agency said today.

The department proposed two regulations to make it easier for those approaching retirement to fund an annuity through their company-sponsored pensions or 401(k) savings accounts. Annuities are insurance contracts that guarantee a lifetime stream of income in exchange for up-front payments.

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