The vast majority of Americans believe they will benefit from lifetime income illustrations on their retirement plan benefit statements, according to the Employee Benefit Research Institute.

In its 2014 Retirement Confidence Survey, EBRI asked if those who participate in an employer-sponsored defined contribution plan would find lifetime income illustrations useful.

EBRI found that 1 in 3 of the respondents thought it was very useful to hear an estimate of the monthly retirement income they might expect from their plan and another 49 percent thought it was somewhat useful.

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