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“Lifetime income illustration” is coming to your 401(k) statement
As a result of the SECURE Act, your quarterly 401(k) statements will look different. Your new quarterly statement will include a lifetime income illustration which shows the monthly income you would receive from your current 401(k) once you retire. The intention of this change is to help you visualize what the money you save today will mean in retirement, very similar to the Social Security benefit letter. Nicole Goodkind explains the changes to the new 401(k) statements. Read Ms. Goodkind’s article here…
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