New story from Accounting Web published by Katie McGrath December 23, 2009

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More employers offering annuities as part of 401(k) package

The number of employers planning to offer annuities to participants in their 401(k) plans is expected to grow as companies look for ways to provide workers with a steady distribution of benefits during retirement, according to a survey by Watson Wyatt, a global consulting firm. This finding comes on the heels of an announcement by the Department of Labor in early December that it will explore steps it can take to encourage employers to offer lifetime annuities or similar lifetime distribution options in their defined contribution (DC) plans. More: http://tinyurl.com/401k39