Faculty Publications

Title

Your Clients' Toughest Retirement Decision: The Debate Between Systematic Withdrawals and Immediate Annuities

Document Type

Article

Publication Date

9-18-2012

Abstract

Want to trigger an impassioned debate? Ask a group of advisors about the choice between systematic withdrawal plans (SWPs) and single-premium immediate annuities (SPIAs). Fee-only advisors are loath to cede control of client assets to an insurance company that might someday default, while annuity advocates fire back that only their strategies provide a lifetime income guarantee.