Guaranteed Lifetime Income Possible Sources | |||||
Title | Guarantor | Back-up | How it might work | COLA | Spousal |
Pension – Corporate | Corporation | PBGC | Monthly payment | Sometimes | Often if elected |
Pension – Government | Government | Taxpayers | Monthly payment | Sometimes | Often if elected |
Pension - Union | Union | Varies | Monthly payment | Sometimes | Often if elected |
Structured Settlement | Settlor | Insurance | Monthly payment | Doubtful | Doubtful |
Alimony – lifetime | Divorced spouse | Life insurance | Monthly payment | Doubtful | Never |
Life Annuity | Insurance carrier | State Guaranty Fund | Monthly payment | Available | Available |
Deferred annuity | Insurance carrier | State Guaranty Fund | Monthly payment | Available | Available |