Even though defined benefit plans have declined and interest in alternate annuity income options has risen, that doesn't mean that Americans have flocked to buy their own annuities.
In fact, among those interested in annuities, purchasers tend to be at the high and low end of the asset spectrum, according to the Employee Benefit Research Institute.
Using data from the Health and Retirement Study, an EBRI analysis sought to discover the effect of savings on the preference for immediate annuities among retirees aged 65 and over.
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