Fidelity Investments® Offers Deferred Income Annuities to Help Investors Create Future Retirement Income

Firm Extends its Retirement Income Product Offering to Address Demand from Pre-Retirees

BOSTON – Fidelity Investments® today announced it is expanding its retirement income product offering to include deferred income annuities, which enable pre-retirees to turn a portion of their savings into a guaranteed, pension-like stream of lifetime income in the future. With approximately 7,500 Baby Boomers turning 65 every day, demand has steadily grown for income strategies and products that help ensure investors’ retirement savings will last throughout their lifetimes.

“By offering deferred income annuities, Fidelity now has a solution for investors who don’t want to wait until their retirement date to secure a guaranteed fixed stream of retirement income,” said Brett Wollam, senior vice president, Fidelity Investments Life Insurance Company®. “In today’s unpredictable market environment, many investors are seeking greater control over their personal economy. Investing savings early to maximize income for future retirement expenses can be a critical step toward achieving that goal.”

A deferred income annuity can fit easily into a diversified retirement income plan, and is especially beneficial for pre-retirees between the ages of 55 and 65 who plan to retire in 5 to 10 years. By purchasing a deferred income annuity several years before retirement, these individuals have the potential to generate higher guaranteed income payments at retirement, while reducing some market risk from their overall portfolio during the years before they retire.

Fidelity provides investors with access to proprietary annuities as well as products from leading U.S. annuity providers . New York Life’s Guaranteed Future Income Annuity II will be the first deferred income annuity offered through the Fidelity Insurance Network (FIN).

The Guaranteed Future Income Annuity enables investors to set an income start date in the future, at which time they will begin receiving guaranteed income payments for the rest of their lives. At any time between the initial premium date and the income start date, they can continue to acquire more future income by making additional premium payments, and can defer or accelerate their income start date as their personal needs change .

Education and Resources for Investors
To help investors determine if a deferred income annuity can help meet their individual needs and how it can fit into their overall retirement income plan, Fidelity has provided educational content on It includes an online landing page with information about the product category and who it may be best suited for, and a Fidelity Viewpoints article entitled “Smart Strategies for Retirement Income.”

For additional information about annuity investing and guidance on retirement income planning, investors can call 866-452-7634, visit one of Fidelity’s 171 investor centers across the United States, or visit:

About Fidelity Investments
Fidelity Investments is one of the world’s largest providers of financial services, with assets under administration of $3.5 trillion, including managed assets of $1.6 trillion, as of May 31, 2012. Founded in 1946, the firm is a leading provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and many other financial products and services to more than 20 million individuals and institutions, as well as through 5,000 financial intermediary firms. For more information about Fidelity Investments, visit

1 Providers include The Guardian, MassMutual, MetLife, New York Life and Principal.

2 Issued by New York Life Insurance and Annuity Corporation (NYLIAC) a wholly-owned subsidiary of New York Life, which is not affiliated with any Fidelity Investments company. Available in jurisdictions where approved. Guarantees are subject to contract terms, exclusions and limitations, and the claims-paying ability of NYLIAC. This contract has no cash surrender value and no withdrawals are permitted prior to the income start date. Income payments are guaranteed at least as long as the annuitant is living, provided the annuitant is alive on the designated income start date. Contracts in which a Life Only payout option is selected do not provide a death benefit either prior to or after the designated income start date.

3 The ability to move the income start date is not available for the Life Only option or in CT. The policy owner can accelerate the start of income payments to any date 13 months after the latest premium payment or defer income payments up to five additional years from the original income start date selected.

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