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Including a source of guaranteed income into a 401(k) plan is becoming increasingly important, while an annuity is often misunderstood by employees or pre-retirees. Despite the benefits of a guaranteed income stream for life, not enough defined contribution (DC) plans include enough options in the plans, and not enough participants are seeking out an annuity. This dilemma is often referred to as the ‘annuity puzzle” by economists.
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