When you want to offer your 401(k) participants more distribution options than just a lump-sum:

• As an optional plan distribution option, offer plan participants an institutionally priced fixed immediate annuity that can provide guaranteed lifetime income
• Institutional pricing for annuities can be provided with a master annuity contract like Pacific Lifetime Income

When you want to protect your employees from running out of money during retirement:

• Most employees don’t recognize how many years they may spend in retirement– for example, a married couple age 65 have a 50% chance that one of them will live to age 94¹
• Annuity payment structures can include Joint and Survivor options with payments to the surviving spouse at 100%, 75%, and 50% of the original payment amount
• Many other annuity options are also available

_{1 Society of Actuaries. “RP2014 Mortality Tables Report.” October 2014 (Revised November 2014).}