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Constancy Investments introduced Thursday the official public launch of its Assured Earnings Direct platform, designed to permit retirement account house owners to transform all or a portion of their financial savings from a 401(ok), 403(b) or 457(b) plan into a right away revenue annuity.
Constancy first revealed its plans for Assured Earnings Direct in late 2021, and it started testing this system and making ready for rollout greater than a yr in the past. The agency says the annuity platform is now absolutely stay and able to assist savers enter retirement with a better sense of monetary safety.
“A key problem for workers as they transition from saving for retirement to residing in retirement is making certain there’s sufficient predictable revenue to cowl important bills,” says Keri Dogan, senior vice chairman of monetary wellness and retirement Earnings options at Constancy. “Many individuals really feel anxious about learn how to generate revenue in retirement and wish to scale back the danger of outliving their property.”
Dogan factors to Constancy survey knowledge exhibiting retirement preparedness is a supply of monetary stress for workers. A big majority (79%) are apprehensive they received’t find the money for to final their lifetime, whereas 85% really feel employers ought to take extra accountability in serving to them put together for retirement.
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