Request a Proposal

Lifetime Income Disclosures

U.S. Senate lawmakers introduced the Lifetime Income Disclosure Act, which would require 401(k) plan sponsors to inform plan participants of projected monthly income in retirement based on participants’ current account balances. The House of Representatives likewise introduced a similar bill requiring that participants’ current retirement balances be illustrated as if they were receiving monthly paychecks for life (based on a series of assumptions).

planadviser.com; May 15, 2015.