In this episode, we dive into the options retirees consider when selecting a pension or annuity settlement—especially the most common choices available today. We start with the Joint and Survivor option, favored by many married couples for its promise of continued payments to a surviving spouse. For single retirees, we discuss the Life with 10-Year Certain option, which guarantees income for life, but ensures at least ten years of payments, even if the retiree passes away early.

But are these traditional settlement options the best way to secure retirement income? Enter the Guaranteed Lifetime Withdrawal Benefit (GLWB)—an increasingly popular choice that addresses some key downsides of older options. Unlike standard settlements that may end payments upon death, the GLWB not only provides lifetime income but also the opportunity to pass on r ...