BlackRock’s 401(k) plan underscores trade-offs in retirement risk transfer
Breakingviews says BlackRock aims to remake 401(k) funds into defined-benefit-like outcomes by using annuities and private assets, while noting more moving parts complicate long-term pension calculations. It cites $11 trln in 401(k) funds and references the Sept 16 unveiling of customizable target-date 401(k) funds.