The Labor Department has reversed course on a proposal to repeal the annuity "safe harbor" established under the Pension Protection Act of 2006. The change makes it more likely employers will continue offering annuities and other lifetime income options in 401(k) plans.

That's good news for insurers, who lobbied aggressively to preserve the safe harbor and the lifetime income products they sell through workplace retirement plans.

But is it good news for you as a 401(k) participant?

Don't miss the move: SIGN UP for TheStreet's FREE daily newsletter

Advocates say yes.

Keeping the safe harbor, they argue, means plan sponsors are more likely to maintain lifetime income options in their investment menus, giving workers and retirees continued access to products that can provide guaranteed m

See Full Page