"This will provide a guaranteed income with inflation protection. It will also provide higher income than [individual investors] could withdraw if they managed the money themselves. I ran a quick quote for immediate annuities through Income Solutions [an annuities advisory] for a 65-year-old man beginning May 1, 2013. I received quotes of $994-$1002 per month with a 3 percent increase each year. This represents a withdrawal rate of about 4.8 percent a year."
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