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We believe that when saving for retirement you should first contribute as much as you can to your employer-sponsored plan and IRA. Maximizing an employer-sponsored plan and IRA first allows you to take full advantage of any available company match, pretax contributions, and tax deductibility.1 Once you’ve reached those thresholds and would like additional retirement savings opportunities, you may want to consider contributing to a low-cost, tax-deferred variable annuity so you can add to your tax-deferred savings.
Get more information on Fidelity Personal Retirement Annuity,2 a low-cost, tax-deferred variable annuity.
Generally there are three options for withdrawing3 from your annuity. Assets can be:
Note: Each option holds unique tax implications that should be considered before withdrawing.
If the last owner dies before the annuity date, assets transfer to the beneficiary or beneficiaries named in the annuity contract. Beneficiaries can generally choose to receive their portion of the balance in one of four ways:
Note: If the beneficiary is a spouse as defined by federal law, then he or she may elect to assume ownership of the contract rather than withdrawing or turning assets into an income stream.1
Before investing, consider the investment objectives, risks, charges, and expenses of the annuity and its investment options. Call or write to Fidelity or visit Fidelity.com for a free prospectus and, if available, a summary prospectus containing this information. Read it carefully.