My wife took an early retirement, too young to draw from her retirement plan.
Her company bought an annuity to fund her retirement, effective when she turns 65.
Not sure if or how it would work, but I always wondered why more companies don’t use annuities to fund retirement plans.
as an FYI...My uncle is drawing a retirement from the central states teamsters pension fund.
The fund goes down to 0 balance 2025. Obama rejected an alternate plan to keep the fund going.(mostly a reduced benefits plan)
Annuities are a terrible investment. That’s why