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Here’s an ‘income menu’ that could help retirees make their savings last

| April 07, 2017
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What is the difference between the old pensions of yesterday and today's 401(k)'s? Employees understand that pensions are good for guaranteed income and many employer's no longer offer them because of the expenses. This leaves a heavy burden on the employee.

Have employer's lost a sense of responsibility to their employees and their communities? Or are we in the midst of a renaissance?

by: Andrea Coombes

Workers understandably fret about the shift from traditional pensions to 401(k)s and similar defined-contribution plans. The investment risk is now almost entirely on their shoulders, as is the responsibility of figuring out how to make their savings last 30 years — or even longer.

But what if it isn’t that complicated?

I recently explored employers’ efforts to address their workers’ retirement income issues. Here, I’ll explore another concept: A strategy for creating lifetime retirement income, developed by the Stanford Center on Longevity in collaboration with the Society of Actuaries, that could appeal to financial planners, employers and do-it-yourself retirement savers.

Here’s the idea

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