Fidelity to Offer Annuity Access to 401(k) Participants

November 23, 2021 by Ginger Szala

Fidelity Investments, which has $11.1 trillion in assets under administration, announced Thursday that it was launching Guaranteed Income Direct in 2022, giving 401(k) and 403(b) plan participants the ability to annuitize their retirement savings.

The company says it has 8 million workers age 50 to 64 on its savings platform, noting that the growing interest in these “guaranteed income” products was a key reason for offering this new option.

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Originally Posted at ThinkAdvisor on November 18, 2021 by Ginger Szala.