By Cindy Reed, Midland National Life Insurance Company
In an effort to increase retirement security for Americans, the Treasury has announced proposed easing of its rules on annuities for retirement plans. The rules would make it easier for retirees to choose to elect distribution of their qualified retirement savings as a stream of income in regular payments for as long as they live. These flexible “lifetime income” options can provide greater certainty in retirement and minimize the risk of retirees outliving or underutilizing their retirement savings. For more information on this rule and how it could impact your retirement savings, click here.