X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
21% of respondents who opted for a lump sum from a DB or DC plan say they’ve already spent it all. (Photo: Bigstock)

Many retirees who take a lump sum rather than opting for a guaranteed monthly annuity could be asking for trouble — a new study finds that a substantial number of them spend those lump sums within just a few years of retirement.

BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.