"There are [1] plenty of surveys out there suggesting that participants want lifetime income options ... [2] no shortage of academic studies that suggest participants would benefit from their availability ... [3] the occasional legislative proposal to expand and/or mandate them as a distribution default ... And yet the reality is that when actually given the choice ... the vast majority of participants don't avail themselves of the option. Even those in defined benefit plans seem inclined to 'take the money and run' given the chance."

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