https://longevity.stanford.edu/wp-content/uploads/2017/05/new-logo2-01-300x107.png 0 0 admin https://longevity.stanford.edu/wp-content/uploads/2017/05/new-logo2-01-300x107.png admin2012-11-14 23:46:522012-11-14 23:46:5211/14/2012 - A 401(k) That Promises Never to Run Dry
11/14/2012 – A 401(k) That Promises Never to Run Dry
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.