✉news BusinessPersonal Finance first seen 19 h ago, last 1 h ago, peak #18
With Pensions Fading, Retirees Turn to Annuities and Face Social Security Rules
Original: Only 14% of Private Workers Still Have a Pension. He Bought an Annuity Instead, and Social Security Treats Those Checks Two Different Ways
Only 14% of private-sector workers still have a traditional pension, and one retiree who bought an annuity to replace that missing income is highlighting a catch: Social Security treats annuity checks in two different ways depending on how the annuity was purchased and how payouts are structured. The case underscores how Americans increasingly self-fund retirement through annuities and 401(k)s, while navigating complex federal rules on how those payments affect or supplement their benefits.
Why now: Decline of private pensions is pushing retirees toward annuities, and confusion over how Social Security treats those payments is drawing attention.
Social Security Administration24/7 Wall St.
Evidence
- Only 14% of Private Workers Still Have a Pension. He Bought an Annuity Instead, and Social Security Treats Those Checks Two Different Ways · 24/7 Wall St.
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