June 9, 2009
ASR Applauds Introduction of Comprehensive Retirement Security Legislation
The Americans for Secure Retirement (ASR) coalition today applauded introduction in the U.S. House of Representatives of crucial retirement legislation. H.R. 2748, the Retirement Security Needs for Life Act, introduced by Representatives Earl Pomeroy (D-ND) and Ginny Brown-Waite (R-FL) provides incentives for Americans to secure retirement vehicles that provide a steady stream of income for life.
The Retirement Security Needs Lifetime Pay Act would encourage retirees to receive some of their retirement savings in the form of guaranteed lifetime income. Included in the bill is a provision that would give a 50 percent tax exclusion on the annual income from a non-qualified lifetime annuity, up to $10,000 per year. A lifetime annuity is the only financial vehicle that delivers a steady stream of income for life- a paycheck for life. Read More