Dick Kaplan quoted in Chigago Tribune

Dick Kaplan (Illinois) was quoted extensively in yesterday’s Chicago Tribune.  Here’s an excerpt from the article:

“Richard Kaplan, a University ofIllinois law professor and faculty adviser to the university’s ElderLaw Journal, believes more regulation is in order for these products,particularly as the wave of Baby Boomers heads into retirement.  Until that happens, he said, consumers need to arm themselves with asmuch information as possible and push for the best features, includinginflation protection and shortened lock-in periods for retrieving moneyfrom annuities, he said.  Here are some other issues that Kaplan said seniors should watch out for as  they consider money moves in retirement:  Don’t rely on regulations for protection. When retirees could rely onpermanent Social Security and private pensions, strictly regulatedannuities weren’t a high priority, Kaplan said. Now definedbenefit-pension plans have waned, almost to the point of extinction, hesaid.

Read his every word at http://www.chicagotribune.com/business/yourmoney/chi-ym-journey-0624jun24,0,5056874.story?coll=chi-bizfront-hed