Yet he was optimistic. "At Ameritas, we believe in helping participants achieve lifetime income so they can live as comfortably as possible knowing they will not exhaust all of their retirement funds," said Kais. "Whether in-plan or outside of the plan, most participants may benefit by placing a portion or the entirety of their assets in an annuity."
To TIAA's Walsh and others like him, the benefits of in-plan annuities shouldn't be missed.
"While retail products have and continue to play an important role in retirement security, having these products also available through an employer-sponsored plan is key to addressing concerns about retirement income," he said.