Want Guaranteed Income for Life? Annuities are the Only Solution
Dec 10, 2025
Will my Money Last in Retirement? Congress is Helping Seniors say “Yes!”
Dec 1, 2025
Few Americans are retiring these days with traditional pensions, but the desire for a guaranteed lifetime income stream in retirement is as strong as ever. More than 9 in 10 workers say it is important for their retirement plans to provide options for converting savings into guaranteed monthly retirement income that never runs out, according to Nuveen and the TIAA Institute.
Annuities, as the only product in the private marketplace that provides retirees with guaranteed lifetime income like a traditional pension, provide retirees the solution they are seeking. And retirees’ desire for the security annuities offer keeps growing. According to LIMRA, Americans purchased a record $345 billion in the first nine months of 2025, building on record annuity purchases the last three years.
Lawmakers are taking note. The SECURE Act made it easier for employers to offer annuities as part of their 401(k) plans. SECURE 2.0 made it easier for retirees to access Qualified Longevity Annuity Contracts, which provide guaranteed income later in life.
However, many Americans are still limited in their ability to convert their retirement savings into guaranteed lifetime income. Fortunately, Congress is continuing its work to expand access to annuities. New legislation just introduced in the U.S. House, the Retirement Simplification and Clarity Act, will make it easier for savers 50 and older to roll over their 401(k) savings into annuities.
Americans planning for retirement will face many important decisions, including how to ensure their savings will last. It’s essential that public policy supports the ability of savers to choose annuity products that will provide them with a secure financial future.
Andrew Remo
Andrew Remo serves as Vice President, Retirement Security for the American Council of Life Insurers. In this capacity, he plays a leading role in advocating for policies that help people access the tools they need to save and ensure those savings last a lifetime. Previously, Andrew worked on these issues for the American Retirement Association and on Capitol Hill.
