CDAs and GLWBs Help Retirees Avoid Outliving Assets

Report from the U.S. Government Accountability Office also finds some potential risks to consumers and insurers.

INN Breaking News, January 10, 2013

Chris McMahon

Variable annuities with guaranteed lifetime withdrawal benefits (VA/GLWB) and contingent deferred annuities (CDA) can help ensure people don’t outlive their assets, but do present some risks to consumers, according to “Retirement Security: Annuities with Guaranteed Lifetime Withdrawals Have Both Benefits and Risks, but Regulation Varies across States,” a report from the U.S. Government Accountability Office (GAO).

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