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'Bridges' to Maximize Social Security Benefits Should Be Built Into 401(k)s, Researchers Say
Barron's 
Jan. 18, 2021 "Retirement researchers recently have been touting the benefits of a so-called bridge strategy, whereby retirees front-load withdrawals from 401(k) plans and individual retirement accounts to delay claiming Social Security. For each year that a person delays claiming up to age 70, his monthly Social Security check goes up 7% to 8%.... This new idea ... calls on 401(k) plan sponsors to introduce a default 'bridge fund' into 401(k) plans that would use fund assets to deliver automatic monthly payments to anyone who retires in their 60s at a level equivalent to the monthly Social Security benefits that seniors would receive at full retirement age." |
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