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Annuity-infused hybrid 401(k)s could find more success

United Technologies' fixed-annuity option in its 401(k) plan could provide retirement income guarantees for its participants, but there are costs involved.

By Andy Stonehouse | Updated on November 16, 2012

Can the lowly 401(k), the great white hope of the retirement world, be given a custom makeover to give it all the thrilling appeal of the once-prominent (and much more worker-friendly) pension plan?

A New York Times article relates the story of Hartford, Conn.-based United Technologies and its somewhat inventive use of annuities in its 401(k) plan to create that lifetime stream of income that employees most miss from the pension days.

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