Research from Harvard found 77% of retirees wish they had locked in a guaranteed income stream when they retired and 86% feel their employer should have helped them arranged one. Yet, 69% want to keep control of their retirement assets. Good luck finding a company that will guarantee income for life and hand over control of those assets. Retirees generally stay away from annuities because the can be confusing, are laden with fees, and forfeit control. However, insurers are becoming more innovative and offering more straightforward annuities that guarantee payouts for 10 years. Also, the Treasury is pushing 401(k) plan sponsors to let employees convert some or all of their assets to an annuity within the plan.

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