"[Defined benefit] pensions are now an endangered species, leaving younger generations of workers holding the bag to manage ... longevity risk, which requires making important decisions to avoid outliving their savings.... While [deferred income annuities are] well understood within the industry, they still have not made their way into the mainstream of today's defined contribution 401(k) plans, where they could serve an important role by replacing a portion of the guaranteed income that pensions used to provide."  MORE >>