As retirement plan advisors certainly know, the reduction of defined benefit pension plans and the rise of their defined contribution counterparts means more Americans are more responsible for their income in retirement.
While products and strategies exist to aid workers with accumulation and income, it’s a complicated challenge. Thank goodness Mike De Feo is here to help. De Feo, Head of Defined Contribution Distribution at Allianz Life Insurance Company of North America, says it’s finally time to get excited about in-plan retirement income products, and he joins the Executive Interview to discuss why.
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Fixed indexed annuities are designed to meet long-term needs for retirement income. They provide guarantees against the loss of principal and credited interest, tax deferred accumulation potential and the reassurance of a death benefit for beneficiaries.
Products are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. (C64712-MVA)
Increasing income potential is provided through a built-in rider at no additional cost.
Withdrawals from the annuity may be subject to ordinary federal and state income taxes. You may also be subject to a 10% federal early withdrawal penalty if you take withdrawals prior to age 59½.
Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.
● Not FDIC insured ● May lose value ● No bank or credit union guarantee ● Not a deposit
● Not insured by any federal government agency or NCUA/NCUSIF
Product and feature availability may vary by state and retirement plan.
This notice does not apply in the state of New York.
