Reaching age 65 was considered a turning point in making the transition from work into retirement. Now even Social Security is at risk. Retirement is not what it used to be. A pension plan offers the advantage of a guaranteed lifetime income, with the plan sponsor assuming investment and longevity risks. The traditional pension is also on its way out of favour, as defined contribution plans, such as 401(k) plans, have supplanted them as the primary type of retirement plan. Put aside the notion that individual investors have not shown as much competence in managing their 401(k) accounts as professional investment managers in managing pension assets. This grand 401(k) plan experiment that started years ago lives on. Now that 401(k) plans dominate the retirement savings landscape, it is ever so important to have a strategy to squeeze the most out of your 401(k) plan accounts.