Paula Calimafde Provides Commentary for Law360 Article on Offering Annuities in 401(k)s
Paula Calimafde provided commentary for an article titled: "Employers May Shy Away From Offering Annuities in 401(k)s" which was published on Law360.com on June 12, 2019.
“The reason why [annuities] are never selected is because if the plan participant leaves the benefit outright to a beneficiary in either a retirement plan or an IRA, the participant is assured that the beneficiary will receive the entire amount of the benefit that remains at his/her passing,” Calimafde said. “In the case of a premature death with an annuity, as a general rule the amounts not paid out to the participant — and to the spouse if a joint and survivor option was selected — belong to the insurance company.”
The full article, "Employers May Shy Away From Offering Annuities in 401(k)s," can be found on Law360.com (subscription required).