Participants in 401(k) programs don’t want to go into retirement without a clear picture of what shape their finances are in.
That was the main takeaway of an Insured Retirement Institute study in which nine in 10 participants polled said they wanted to see an estimate of lifetime income appear on their 401(k) statement.
This is in keeping with the position of the Department of Labor, which intends to propose that retirement plans should be made to include illustrations of lifetime income on statements.
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