From: Pete Giancola [mailto:pete.giancola.cita@statefarm.com] 

Sent: Thursday, February 11, 2010 7:01 PM 

To: EBSA, E-ORI - EBSA 

Subject: RIN 1210-Ab33

Request for Information on Annuities 

1)      Annuities grow tax deferred 

2)      If either capital gains rates or their holding periods increase Variable annuities

being tax‐deferred would be unaffected. 

3)      Variable annuities do not cause the Social security payments to be subject to

taxation. 

4)      Record keeping requirements for Variable annuities are significantly less complex

than other vehicles

5)      Many states provide either complete or partial protection from the claims of

creditors for Variable annuities.

6)      Variable annuities almost always pass outside of probate therefore remain intact

for the beneficiaries.

7)      Guaranteed loss protection you can have a guarantee from ever losing the

principal on your investment.

8)      Many annuities today provide a guaranteed rate of return.

9)      The risk of insolvency in not borne by the variable annuity holder

10)     Variable annuities can be exchanged without triggering income taxes. One for

another

11)     Annuities can provide their owners with a guaranteed stream of income for their

entire lifetime. How many retirees for the last two years would have slept better

knowing they could never run out of money. The drain on our medical system form the

angst and consternation.

12)     Variable annuities allow owners to precisely control how much money will be

withdrawn from their annuity thus controlling how much they will pay in taxes
13)     Many annuities waive any surrender penalties when individuals suffer a serious

illness, or are required to go into a nursing home, lose their job ect. You don’t have to

take a hardship withdrawal and qualify to get the money to keep your family in your

home.

The guarantees and benefits of being able to utilize these instruments in retirement

planning far and away outweigh any of the disadvantages the may pose . They may be

just a little more costly but how many of us would be so far less stressed had we known

our money didn’t evaporate over the last two years from our retirement accounts?

Pete Giancola CHFC ®

Pete Giancola's Insurance Agency Inc.

"Providing Insurance and Financial Services"

Phone (952)474-7600 

Fax (952)474-7599 

 Pete.giancola.cita@statefarm.com 

 18178 Minnetonka Blvd 

 Deephaven, MN 55391-3349 

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