10/1/2013 – Study shows how to fix big flaw with 401(k) plans

Most 401(k) participants plans are on their own when it comes to deciding how to turn their retirement savings into reliable, lifetime income. The reason? Most employers pay retiring employees a lump sum from the 401(k) plan and don’t provide any help with the critical task of generating retirement income from that savings.

Read the full article by Center on Longevity Research Scholar Steve Vernon at CBS MoneyWatch.