Government Information

Earl Gregg Swem Library

401(K) Plans: DOL Could Take Steps to Improve Retirement Income Options for Plan Participants

Categories: Elderly,Income/Poverty,Retirement/Social Security

http://www.gao.gov/assets/680/678924.pdf

Finds that many 401(k) plan sponsors do not offer annuities or other plans for helping participants make their savings last for a long retirement.  This report examines what is known about lifetime income options in 401(k) plans, barriers to their inclusion in plans, and alternatives for participants who don’t choose a lifetime income option.  From the Government Accountability Office