Coming soon to Fidelity 401(k) plans: annuities
If your company’s 401(k) or 403(b) plan is managed by Fidelity Investments, your employer may soon start offering you the option of buying a lifetime annuity when you retire. Fidelity, America’s biggest retirement plan provider, on Thursday announced the launch of Guaranteed Income Direct, a product that will allow employers to offer employees multiple annuity options from within the plan. This is part of a growing trend, following the passage of the 2019 SECURE Act, which made it legally safer for employers to offer annuities.
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