Prudential Financial says it will offer a variable annuity that uses target-date funds as part of some 401(k) plans, a move that could expand the use of annuities among company-sponsored plans. Several other firms already offer similar annuities, as risk-wary employees have sought guaranteed-income retirement products since the financial crisis, writes Anne Tergesen. But guarantees come with a price -- typically a 1% annual fee.

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