Despite today’s favorable annuity rates, few retirees select them, and most 401(k) plans don’t “nudge” them to do so. Wharton Professor Olivia S. Mitchell with co-authors Vanya Horneff and Raimond Maurer explore how ‘pretty good’ lifetime payouts from retirement plans can be made more accessible. Their research underscores the need for including deferred annuities as a default approach for 401(k) plans. Via Morningstar.
