Filed Under:Markets, Employee Benefits

Feds, workers agree: Guaranteed income vital in retirement

U.S. workers want guaranteed income in retirement and the GAO says they should get it. (AP Photo/Ross D. Franklin)
U.S. workers want guaranteed income in retirement and the GAO says they should get it. (AP Photo/Ross D. Franklin)

At least American workers and the federal government can agree on one thing: Having guaranteed income in retirement is vital. A recent survey by LIMRA and a report by the Government Accountability Office (GAO) concur on that point.

When polled by LIMRA, eight in 10 U.S. workers favor employers providing direction on how to covert savings into a retirement income. Support was particularly strong among younger workers, with 90 percent of those between the ages of 18 and 34 “strongly” or “somewhat” agreeing that employers should aid in helping workers turn their 401(k) or defined contribution (DC) funds into an income stream in retirement.

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Nichole Morford

Nichole Morford
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