Fidelity, Vanguard and BlackRock are all adding annuities to 401(k) plans — betting retirees want pension-like income

▤ Summary

Fidelity, Vanguard, and BlackRock are adding annuity-based options to 401(k) plans to give retirees more predictable lifetime income. Fidelity plans to launch Freedom Lifetime in 2027, with rollovers into annuities from New York Life and Nationwide. Vanguard and BlackRock have already introduced similar lifetime income products for target-date funds. The article frames this as part of a broader shift from traditional pension income toward retirement products that reduce outliving-savings risk.

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