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Stack of coins in decreasing size left to right

At a recent Brookings Institution forum on the decumulation of wealth in 401(k) plans, Dick Thaler, a behavioral economist and Nobel laureate, suggested that workers be allowed to send the Social Security Administration a portion of their 401(k) savings in exchange for an annuity.  The amount eligible for annuitization could be capped at $250,000 or…

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As retirees’ health declines, their medical costs go up. These costs include both everyday healthcare expenses and long-term care costs. The everyday expenses that Medicare does not cover – Part B and Part D premiums, copayments, eyeglasses, and dental care – consume about 20 percent of the incomes of households ages 75 and over. While not…