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Guaranteed Lifetime Income and the Importance of Plan Design (PDF)
Prudential Link to more items from this source
Nov. 18, 2014
"[W]hen workers are left to their own devices in a plan without a guaranteed lifetime income benefit, the participation rate is 65%.... [T]he optimal design for the best participation was a plan with a default investment with [a guaranteed lifetime retirement income product], automatic enrollment (for all plan eligible workers), and participant automatic contribution escalation (for all plan members), resulting in an 88% participation rate."

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