11/14/2012 – A 401(k) That Promises Never to Run Dry

Nov 14, 2012 Comments Off by

WHILE anything resembling your father’s pension is unlikely to return, one large company has overhauled its 401(k) plan so workers can receive a paycheck for life.

Like many large employers, United Technologies, based in Hartford, closed its traditional pension plan to new workers a couple of years ago. The retirement plan that replaced it tries to solve one of the 401(k)’s biggest shortcomings and a thorny problem for retirees: protecting hard-earned savings from a volatile stock market while ensuring the money will never run out.

Read the full article at The New York Times.

financial security articles, Longevity News 2012

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