ABSTRACT
Defined-benefit pension plans have moved
into the minority in qualified plan design.
Yet prospective retirees still want the secu
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rity of an income they can’t outlive. Insur
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ance-based products are uniquely designed
to fill this retirement income gap. Both annu
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ities and life insurance policies can provide a
form of defined-benefit income for a retiree.
Recent design features with these products
further strengthen their place as the new de
-
fined-benefit plan for retirement planning