Are annuities coming to your 401(k)?
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There was a flurry of excitement this week on news that Congress is poised to make the “biggest changes to U.S. retirement savings in more than a decade.”
In fact, however, there was no news. The proposed changes that got everyone excited were in a bill that was introduced in March and, since then, no committee hearings have been held, much less even scheduled. The flurry of excitement can be traced to the publication of an article in The Wall Street Journal about the legislation and some of the possible changes that could get introduced.
This appears to be yet another case of journalists creating the news rather than just reporting on it. (I’m of course never guilty of that…) I nevertheless think it is worthwhile to use the occasion of this heightened attention to discuss what the possible changes could mean for your retirement financial planning.
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