Group Annuities

Cashmore Financial Group
https://cashmorefinancial.com/
(847) 231-6150

The competition for talented employees has become intense in recent years. Some companies are turning to offering group annuities as part of their retirement benefit packages to retain current employees and recruit new ones. With a group annuity, the contract with the insurance company is held by an employer rather than the individual who will receive the annuity payments. During the employee’s working years, the group annuity will continue to accumulate value at a fixed or variable interest rate depending on how the annuity is structured. Once the employee reaches retirement age, the value of the annuity contract is converted into a stream of income payments. Options available on some group annuities could also include having an employee opt to receive income payments for life or choose to provide spousal benefits to a partner. Group annuities are a great way for companies to provide current and future employees with a dependable, additional stream of revenue in retirement. To find out more about group annuities, call us today.
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