401k Participants Can "Replace a Chance with a Guarantee"
Larger 401k accounts (in excess of $200,000) dropped 25% on average in 2008. 95% percent of participants in defined contribution style 401k plans would pursue a "cash out" option if offered--essentially taking the lump sum of accumulated assets rather than an option to turn that pool of assets into a guaranteed stream of income . Only 25% of participants in defined benefit pension programs would accept the same lump sum "cash out" offer.
Key Phrases:
Key Phrases:
Key Phrases: