10/28/2013

Fannie Mae and Freddie Mac are scheduled to close their defined-benefit pensions plans Dec. 31. Edward DeMarco, acting director of the Federal Housing Finance Agency, says the plans will be terminated "to conserve their assets on behalf of taxpayers, one of our main priorities as conservator." Participants will be allowed to convert to an annuity or roll the balance over into an individual retirement account or a 401(k).

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