Do all state and local workers receive an annuity in retirement?

Wandrei, Kevin, and Jean-Pierre Aubry. “Do all state and local workers receive an annuity in retirement?”. State and Local Pension Plans 79, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, August 2021. http://hdl.handle.net/2345/bc-ir:109260.
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Abstract

The brief's key findings are: (1) The conventional wisdom is that all state and local government workers receive a lifetime annuity in retirement from their employer pension plan. (2) The analysis confirms this presumption for most workers, but also finds that a small share will receive some income that is not annuitized: about 6 percent of all state and local workers convert part of their defined benefit annuity into a lump-sum payment; another 8 percent will potentially enter retirement with un-annuitized assets from a defined contribution plan.

Title
Do all state and local workers receive an annuity in retirement?
Author
Wandrei, Kevin
Aubry, Jean-Pierre
Center
Center for Retirement Research
Genre
report
Date Issued
August 2021
Publisher
Center for Retirement Research at Boston College
Series Title
State and Local Pension Plans
Series Number
79
Persistent Link
http://hdl.handle.net/2345/bc-ir:109260
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and Local Pensions

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