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Do-it-yourself retirement income

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Baby-boomers who are retiring with only their 401(k) balances to live on and no lifetime pension benefits face a daunting challenge: How do you turn your 401(k) funds into a retirement paycheck that lasts for the rest of your life?

As I previously wrote, the good news that many 401(k) plan sponsors are considering adding retirement income options to their plans in which the plan sponsor shops for viable products and services that will help participants generate a retirement paycheck.