nextAdvisor: Sharing participant perspectives on lifetime income with clients

1. More than 2,100 401(k) participants were surveyed online between 23 Oct and 29 Nov 2024. Survey responses were weighted by industry, generation, gender, education, and race and ethnicity. Sample quotas ensured at least 500 respondents each from Generation Z, millennials, Generation X and baby boomers.

Annuities are designed for retirement or other long-term goals, and offer a variety of income options, including lifetime income.

Any guarantees are backed by the claims-paying ability of the issuing company.

Pension-like income refers to the income received from a guaranteed-interest annuity contract, not income provided by a defined benefit pension plan.

Converting some or all of your savings to income benefits (referred to as “annuitization”) is a permanent decision. Once income benefit payments have begun, you are unable to change to another option.

The views and opinions expressed are for informational and educational purposes only, as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions, legal and regulatory developments, additional risks and uncertainties and may not come to pass. This material may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition.