Legislative experts said the recent attention lawmakers have been lavishing on annuities should be seen as a good sign for the financial services industry as a whole, not simply a win at the expense of the mutual fund industry.In a polarized environment that defines so much of the political process, some people have come to think that the renewed attention on annuities is hogging the spotlight from mutual funds. But that thinking would be wrong, said Sean Cassidy, vice president of federal government affairs for Voya Financial.rising tide lifts all boats, he said, speaking at the annual marketing summit of the Insured Retirement Institute (IRI).In the past, insurers have feuded with mutual fund companies over the use of annuity based retirement calculations to generate monthly retirement income disclosures.Many early baby boomers, those who began retiring in 2011 when they turned 65, still benefit from defined benefit pensions. But as that generation leading edge cedes to the trailing edge, more boomers will be reliant on defined contribution plans to fund retirement.That demographic shift has shone a brighter spotlight on annuities as lawmakers discuss the need for guaranteed income among baby boomers.
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