BlackRock Inc., the world's biggest money manager, has a target-date fund with a fixed deferred annuity from MetLife Inc. for 401(k)s that's available to employers, said Brian Beades, a spokesman for the firm. No companies had adopted it as of June 27, he said.
Individuals should consult with a fee-only planner before committing to any retirement strategy, said Weston, the author. That's because many things can go wrong when spending down savings, such as withdrawing funds too fast or tapping pots of money in an incorrect order, she said.
"It's really not a do-it-yourself project," Weston said.