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Annuity Rates are increasing for Oct. 1, 2022. The top rate I see as of today is 5.05% for 4 years
I haven't seen Multi-Year Guarantee Annuities (MYGA) with rates at 5% in a very long time.
The best rate I see as of today is a 4 year MYGA with a rate of
5.80% Year 1 and then 4.80% years 2, 3 and 4.
Let's see how many carriers raise rates to this 5% range.
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Withdrawals may be subject to ordinary income taxes and, if made prior to age 59½, may be subject to a 10% IRS penalty.
Surrender charges may also apply for early or excess withdrawals.
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