Default annuities: umbrella funds show the way
Wade D. Pfau
The joy of most defined-benefit (DB) funds is that, at retirement, you, as a member, can move seamlessly from being a contributing member to receiving a predefined pension for the rest of your and your partner’s life. The downside is that you cannot leave any retirement savings to your heirs – the pension dies with you, or your partner.
Cameron, Bruce, "Default annuities: umbrella funds show the way" (2016). In the News. 1594.