TY - JOUR T1 - Analyzing an Income Guarantee Rider<br/>in a Retirement Portfolio JF - The Journal of Retirement SP - 100 LP - 109 DO - 10.3905/jor.2013.1.1.100 VL - 1 IS - 1 AU - Wade D. Pfau Y1 - 2013/06/30 UR - https://pm-research.com/content/1/1/100.abstract N2 - Income guarantee riders for variable annuities are growing in popularity as a retirement income tool. This article explores their role in both the deferral and withdrawal stages of retirement income planning. Results explore how well income guarantees support an inflation-adjusted benefit base, as well inflation-adjusted retirement income withdrawals. By comparing income provided by a guaranteed portfolio with an unguaranteed portfolio replicating the same payments, we can obtain greater insight about the efficacy of the income guarantee. Results depend on what asset allocation choices would be made by retirees both with and without the income guarantee.TOPICS: Portfolio construction, risk management, retirement ER -