Anne Tergesen

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4,485 appearances 83 recordings 1 series first heard Jul 2017 last heard Feb 2025

Anne Tergesen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · 401(k) Plans Offering Pension-Like Benefits to Ensure Steady Payments · 21 Jun 2022 podcast

So a pension plan is sort of being phased out by a lot of companies now. matched

And in fact, a lot of companies have already gotten rid of them. matched

But with a pension plan, what workers would do is they would work at a company and in return, the company would guarantee them a certain amount of income for life in retirement. matched

And that was through the pension plan. matched

The matched

in the plan and invest it for the employees and turn it into something that was like an annuity or a paycheck for people in retirement. matched

With a 401 , the employer makes the 401 plan available to the workers, but it's up to the worker to decide whether to contribute to the plan and how much to contribute. matched

And sometimes it's even left up to the employee to decide how to invest that money. matched

And if the worker has, you know, a lot of money at retirement, that's great. matched

But oftentimes a lot of workers fall short with 401ks because it's left up to them to decide how much to save. matched

People don't necessarily know and sometimes they don't save enough. matched

Now that the baby boomers are starting to retire, 401Ks are starting to focus not only on helping workers save, but also helping retirees who are in their plans figure out how to take money out of the 401K. matched

Because, you know, with an old-fashioned pension, the company would literally just mail worker retirees a check every month. matched

Now a retiree might have, say, you know, a half a million dollars in their 401k account. matched

They have to figure out how much can I afford to take out, you know, every month and how much can I afford to spend in order to try to make that money last. matched

And that's something that companies are now trying to help their retirees figure out. matched

by adding annuities to their 401 plans. matched

What annuities are are insurance contracts that actually pay out a steady amount every month. matched

And so some companies are really starting to look at how they can insert annuities into a 401 plan so that when a retiree retires, the annuity will turn their lump sum savings into a steady stream of income. matched

But another way that 401K plans, I think, are really focusing on retirement income and generating retirement income is through something called a managed account. matched

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