Tax breaks for lifetime annuities could protect retirees, study says

Tax breaks for lifetime annuities could protect retirees, study says

A recent study says the government should offer tax incentives to push retiring baby boomers to buy lifetime annuities -- thus cutting the risk that they'll spend down their retirement savings. A bill that would do just that -- exempting as much as 50% of annuity income from taxation, up to $5,000 for individuals or $10,000 for couples -- could come to a vote in the House Ways and Means Committee in the next session.

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