About two weeks ago, Huffington Post blogger (and former EBN contributor) Jane White sparked a bit of controversy when she called retirement plan annuities "the biggest financial rip off on the planet."
“The Obama Administration appears to be duping older workers into thinking they are ready [for retirement] — despite the fact that they have only saved one-tenth of what they need — and simply need a product that will stretch their puny nest egg over a lifetime,” White wrote on the site Oct. 12.
Last week, CBS MoneyWatch writer Steve Vernon responded directly to White, calling her anti-annuity arguments “uninformed,” saying she had a “complete lack of understanding of the process in which 401(k) plans are designed and implemented by employers.”
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Tell us what you think. Does your retirement plan offer an annuity? If not, what’s holding you back? Are you on Team White or Team Vernon. Share your thoughts on