Under bill, 401(k) plans would offer retirement-income estimates

12/7/2009 | PropertyCasualty360

Administrators of 401(k) plans would be required to show beneficiaries the value of their retirement accounts under a bill introduced in the Senate last week. Under the bill, investors would receive an estimate of monthly income at retirement. "This will help workers make better retirement planning decisions. ... Many workers may realize they need to save more and find ways to manage their assets to last a lifetime." said Frank Keating, president and CEO of the American Council of Life Insurers.

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