Questions, answered honestly

A private marketing company. We publish plain-English information about turning retirement savings into income, and, if you ask, we introduce you to a licensed professional. We are not an insurance company, not a broker-dealer, not an investment adviser, and not part of any government agency or employer plan.

It's free to you. Here's how we're paid, plainly: the state-licensed insurance professional we introduce you to pays us a referral fee. You're never charged, and you're never obligated to buy anything.

No. We don't sell any product and we don't give advice. Annuities are sold by state-licensed insurance professionals, who are usually paid a commission by the insurance company when you buy one.

An independent, state-licensed insurance professional who helps people turn retirement savings into income. They don't work for us, and we don't work for them. They've paid us a referral fee for the introduction, and you should know that before the call starts.

No. RetireLevel is not affiliated with, endorsed by, or connected to the U.S. government, the TSP, OPM, the Social Security Administration, or any employer or plan provider. For official rules, go to the plan itself: tsp.gov for the TSP, ssa.gov for Social Security, your plan administrator for a 401(k) or 403(b).

A licensed professional calls or texts, usually within one business day, to set up a free review at a time that suits you. The review takes about 15 minutes: you talk through where you stand, and they show you which income options are open to someone in your situation.

Because they decide which options exist for you. Many annuities have minimum and maximum ages, and some only make sense above a certain balance. A range is enough; we never ask for exact figures.

No, and please don't send them. We never ask for account numbers, Social Security numbers or logins. A rough idea of your balances and your retirement date is all the review needs.

Only if you take the assessment and agree to it on the form. The professional you're matched with will call or text about your review. Reply STOP to any text to opt out, or tell them you'd rather not be contacted. Message and data rates may apply.

No. Finishing the review and deciding to change nothing is a perfectly good outcome, and it costs you nothing.

A contract with an insurance company: you give it money, and it promises you a guaranteed rate, protection from market losses, or income for life, depending on the type. The annuities page covers each type.

Fixed and fixed indexed annuities don't lose value when the market falls. Their guarantees depend on the insurance company's financial strength and claims-paying ability, backed by state guaranty associations up to limits that vary by state. They are not bank deposits and not FDIC insured.

Usually some of it, any year: many annuities allow around 10% a year without a charge. Take out more during the surrender period, often the first 5 to 10 years, and a surrender charge applies. Many also waive the charge for required minimum distributions, and some for nursing home stays or terminal illness.

Some are a poor fit for some people, especially when sold for money that's needed soon, or with features that are paid for but never used. Others do a job nothing else does: income that can't run out, or growth that can't go backwards. Judge a specific annuity by its costs, its surrender terms and what you need it to do.

Generally, yes. A direct rollover from a workplace plan, or a trustee-to-trustee transfer from an IRA, into an annuity held as an IRA keeps the money tax-deferred, with no tax on the move. See the 401(k), 403(b), TSP and IRA pages.

Not on a direct rollover to an IRA or another plan. If the check is made out to you, 20% is withheld and you have 60 days to deposit the full amount, or the shortfall is taxed as a withdrawal.

You're welcome here. Most of the options on this site are still open after you've stopped working, and income annuities in particular are often bought in your 60s and 70s.

Within five years or so, it's a good time to look: some annuities grow for a set number of years before income starts, so earlier planning means more options. Further out, the free Income Guide is a good place to start.