workers of various ages and races looking worried or happy (Photo: Shutterstock)

Recent regulations require plans to provide projections for participants showing how much lifetime income they can expect their account to generate when they stop working. The hope is that these illustrations will help focus pre-retirees on future retirement income and meeting retirement goals rather than simply on saving.

A new report by Prudential explores how lifetime income projections should be calculated and how plan sponsors can make participants more aware of their income challenges and participants, as well as how they might react to such projections.

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