collage of dollars in green with the word 401k written on top (Photo: Shutterstock)

After the challenges of 2020, Americans are thinking more urgently about their financial security. While last year turned out to be a strong year for markets, it certainly didn’t look that way in March, as major indices experienced the fastest-ever decline into bear market territory.

The challenge and economic turbulence of 2020 was unsettling for people planning for retirement and already in retirement — which makes this a good time for your clients who sponsor 401(k) plans to ask how they can offer participants additional ways to protect themselves from economic uncertainty. Guaranteed lifetime income products such as annuities may be part of the answer.

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