No sooner does the mutual fund industry come up with an innovative solution to the retirement income problem than the financial media has to tear it down.

No matter the killjoys. The recent array of guaranteed dividend-paying, pre-laddered, simplified suites of funds from DWS Scudder, Fidelity Investments, Charles Schwab, Russell Investments Vanguard, and the like, including one in SEC registration from John Hancock, mark a bold and refreshing attempt by the mutual fund industry to solve the dual problems of elegantly capturing rollover assets and serving investors' looming longevity and healthcare needs.

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