Major 401(k) Changes Being Considered By Congress

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11. Annuities are complex in that each insurance company has different rules

You really have to research them to know what you are getting. They also don't offer much of a hedge on inflation except for letting you buy down the first year or two then increasing it a little every year after that. Also, any extra money your annuity makes while in the annuity pool is pocketed by the insurance carrier along with a bunch of possible fees.