JPMorgan Jumps Into 401(k) Annuity Market

August 23, 2024 by Allison Bell

J.P. Morgan Asset Management has joined the rush to package annuitization options with the target-date funds offered inside 401(k) plans.

The asset manager last week unveiled the SmartRetirement Lifetime Income program,

The JPMorgan program is likely to include annuitization options from Equitable and Prudential, the company said.

What it means: Another asset giant is throwing its sales and marketing muscle behind the idea that the same workers who are using target-date funds to save for retirement can buy annuitization features within the plan, rather than having to shop for outside annuities or other mechanisms to generate retirement income.

Click HERE to read the full story via Think Advisor

Originally Posted at Think Advisor on August 19, 2024 by Allison Bell.