Labor Department smooths path for annuities as qualified default options

The Labor Department has issued a letter clarifying the fact that annuities can be used in target date funds that are designated by 401(k) retirement plans as qualified default investment options. Employers who take that approach should help plan participants understand the liquidity limitations that come with using annuities, the letter said.

BenefitsPro.com (1/2),  PlanAdviser.com (12/30)