If AA Was the Reason You Bought It, You Need the Right to Leave When It Isn’t AA The insurance industry wants lifetime-income annuities in 401(k) plans. A 401(k) fiduciary buys a lifetime-income annuity in large part because the insurance company is AA-rated. Five years later the insurer gets downgraded. AA becomes A. Maybe A … Continue reading Lifetime Income Annuities Need Downgrade Clauses to Work in 401(k)s