New Ways to Create Retirement Income and Make Your 401(k) Pay Off Like a Pension Plan

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The steady retirement paycheck, a staple of the old-fashioned pension plan, is staging a comeback inside the 401(k).

One way to replicate a pension inside a 401(k) is through an income-based investment, such as a portfolio built on bonds. Companies can also offer employees annuities, insurance contracts that convert savings into lifelong payments, similar to a paycheck.