No Better Annuity Deal than Social Security: How to Help Employers Help Workers to Use Defined Contribution Balances to Delay Claiming

This document is about the testimony of Teresa Ghilarducci from The New School, which analyzes the issues surrounding the use of annuities in defined contribution plans. It highlights the challenges with the commercial annuity market, the advantages of Social Security as a source of guaranteed lifetime income, and provides recommendations for guidance and support to help plan sponsors facilitate the use of defined contribution balances to delay Social Security claiming.