Excerpt: Retirees say they want a regular income check that will be there no matter what. In effect, they want the equivalent of a pension, a dependable source of income that is not subject to the vagaries of the market or other uncertainties. Yet when it comes time to use the savings to purchase a guaranteed lifetime income annuity, they balk. One study, in fact, showed that only 4% of defined contribution plan participants who had an option to annuitize upon leaving the plan chose to do so.  MORE >>