Employees' top retirement question: How do I turn my savings into income I cannot outlive?
One of the clearest takeaways from Bank of America’s 2026 Workplace Benefits Report is the growing demand for guaranteed income solutions.
Guaranteed income plan benefits ranked as the top resource employees said would help them manage their finances. The report found that 38% expressed interest, up 10 percentage points over three years. It also found that 67% would consider allocating part of their 401(k) balance to an in-plan guaranteed income option.
That interest is understandable when you consider current lifetime income strategies:
A flat option provides a higher initial income payment. A growing option begins at a lower rate but is increases over time.
This may be a timely opportunity for some retirement savers to evaluate whether locking in a portion of their future income makes sense.
The goal is not necessarily to guarantee every dollar. It is to determine whether dependable lifetime income can help cover essential expenses while preserving other assets for growth, liquidity, and legacy goals.
Rates are illustrative, subject to change, and are not investment returns.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Guarantees are based on the claims paying ability of the issuing company.