401(k) reform could prompt expansion of US annuity sector

Moves by the US government to promote greater use of annuities among 401(k) defined contribution members will be a definite boost to annuity providers, according to a senior figure at New York-based insurer MetLife.

Jody Strakosch, national director for MetLife’s retirement products group, said government and industry efforts aimed at promoting annuity use would lead to a higher take-up, although the level would depend on the exact nature such efforts took.

“In terms of what the take-up will be,

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