Putting the Pension Back in 401(k) Plans: Optimal versus Default Longevity Income Annuities

Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell WP2017-3 Most defined contribution pension plans pay benefits as lump sums, yet the US Treasury has recently encouraged firms to protect retirees from outliving their assets by converting a portion of their plan balances into longevity income annuities(LIA). These are deferred annuitiesRead More