Thursday, April 20, 2023

How 401(k) Plans Could Soon Be More Like Pensions

Woman calculating her annuity payment
polkadot_photo / Shutterstock.com

A movement is afoot to provide retirees with more steady income for life. Two of the biggest money managers — Fidelity Investments and State Street Global Advisors — are pushing changes that could give tens of millions of 401(k) plan participants an option for consistent income through the use of annuities, The Wall Street Journal reports. Savers in these plans would be able to convert all or part...



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