By Alessandra Malito
Published June 3, 2019

Defined benefit pensions, which are not as common in the private workforce anymore, were similar to an annuity, in that they provided guaranteed income. “Certain types of annuities utilized in retirement plans can replace the void left by the demise of traditional pensions,” said Byrke Sestok, president of Rightirement Wealth Partners in Harrison, N.Y.

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