The Power of Tax-Deferred Growth Why are 401(k) plans, annuities, and IRAs so popular? Share | Related Content Raise Your Retirement Income Retirees look for ways to convert savings and investments into regular income. One option to consider is an annuity. Choices for Your 401(k) at a Former Employer Individuals have three basic choices with the 401(k) account they accrued at a previous employer. Retirement Plan Distributions There are a number of ways to withdraw money from a qualified retirement plan.