Yes they do‼️ Saving and investing for retirement is essential, but so is creating a steady income stream after retirement. Many people will struggle creating that income from their accumulated assets … will I run out of money?😥 Where do I invest to cope with inflation and still have sufficient income?
Those of us fortunate to have a pension know the security of a deposit in the bank each month. Trying to figure that out on your own sounds pretty scary to me. Take a look at this article.
As far as we can determine, United Technologies Corp. UTX, -1.32% is the only Fortune 100 U.S. company that defaults new hires into an investment option that includes a lifetime income approach. Starting at age 48, the default begins to move the participant’s assets to the company’s Lifetime Income Strategy (LIS) component. The initial transfer is about 4% of assets, but the proportion gradually increases until age 60, when the participant’s entire 401(k) account balance is allocated to the LIS portfolio.