Deferred Income Annuities

I enjoyed your Monday, April 20th presentation at the Harold Washington Public Library. The subject of annuities are of interest to me. What is the (new) Deferred Income Annuity? You touched on the term by stating that it is a new retirement vehicle for individuals who plan on leaving the workforce at 70 years or beyond. Is this investment vehicle in all company 401(k) plans? Is it in a 457b plan? How new is it? Where can I read about the Deferred Income Annuity?

Terry Says:  I recently wrote an entire column on Deferred Income Annuities, which start paying out later in life, at age 75,or 80, or 85.  That gives your money more time to grow, and gives you an income that might start just when your other savings run out.  You can buy them with savings you have outside your retirement plan, or put a portion of your IRA into a DIA.  And some corporations now allow them to be purchased inside 40l(k) plans. Here are all the details:  http://www.huffingtonpost.com/terry-savage/dont-run-out-of-money-in-old-age_b_7086100.html