Income Annuities

    No matter how you envision spending your retirement, you’ll need income that you can’t outlive. If you rely on Social Security or a pension to fund your retirement, you may need to find additional sources of income. Income annuities are specifically designed to help you convert a portion of your retirement savings into a predictable stream of guaranteed income that lasts for as long as you live or for a specific period of time. Because of the long-term nature of this guarantee, income annuities provide little or no liquidity. Depending on the type of income annuity you choose, income can start either immediately or on a future date.

    Tax Efficiency1

    If you purchase an income annuity with money that you have already paid taxes on, part of each annuity payment will be considered a return of the amount you paid for the annuity (your purchase payment) and part will be taxable earnings.

    Guaranteed Income

    Income annuities are specifically designed to provide guaranteed income that can last for life or for a specific period of time that you choose. With an additional source of guaranteed income, you may feel more confident about having the money you’ll need for the everyday expenses that don’t stop when your paycheck does.

    Income Options

    With an income annuity, the contract owner decides (within contract limits) how often and when to receive income. Most important, income annuities can provide income that is guaranteed, no matter what happens in the financial markets.

    1 The information provided is not written or intended as specific tax or legal advice. MassMutual, its employees and representatives are not authorized to give tax or legal advice. Individuals are encouraged to seek advice from their own tax or legal counsel.

    Taxable withdrawals are subject to ordinary income tax and, if made prior to age 59½, may be subject to a 10% federal income tax.

    Insurance products issued by Massachusetts Mutual Life Insurance Company (MassMutual) (Springfield,MA 01111-0001) and its subsidiaries, C.M.Life Insurance Company and MML Bay State Life Insurance Company, (Enfield,CT 06082).

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