Employers Slow to Respond to Boomer Calls for Lifetime Income Plans

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More than 74 million people have a 401(k) plan to prepare them for the day they don’t have to work. But most employers don’t offer investment options that might help retirees spend what they’ve saved more predictably.

The largest wave of workers is retiring on a daily basis, and they are realizing that they don’t know how to budget a spending plan for retirement.

Such options are called lifetime or retirement income solutions and are similar to defined-benefit plans where participants get a set monthly income. These products are guaranteed or variable annuity options, but instead of purchasing them at

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