More retirement plans will offer annuity options, though so far companies have been slow to sign up
State Street and its partners are in discussions with employers that have shown interest in the new target-date fund.Millions more Americans will have access to pension-like investments in their 401 plans following a new push from two of the biggest money managers.
State Street Global Advisors, the world’s fourth-largest asset manager, is launching a 401 investment product that lets savers convert their retirement nest eggs into a steady income for life via an annuity in their target-date fund.
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