Many 401(k) Participants Have No Idea How Cash Will Come Out

Retirement plan type, income level, and age all impact pension withdrawal choices for participants who terminate employment with company pensions, explain Profs. Olivia S. Mitchell of The Wharton School and Robert L. Clark of NC State Poole College of Management via ThinkAdvisor.  Also participants with higher Financial Literacy levels are more likely to choose annuitized benefits. Download @PensionResearch working paper here.

 

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