steelyman
Moderator Emeritus
Just noticed this article that described what appears to be a byproduct of Secure Act legislation.
https://www.cnbc.com/2021/08/17/you...idea-of-guaranteed-income-from-your-401k.html
Under an interim rule, 401(k) plan providers would provide two illustrations to participants at least once a year showing what their nest egg could provide if converted to a single life annuity and a joint one.
The amount would be based on a participant’s current account balance and viewed as if the owner is age 67.
Using the assumptions required under the rule, a $125,000 401(k) balance would translate into an estimated monthly payment, for life, of $645 for a single annuity, according to the Labor Department.
https://www.cnbc.com/2021/08/17/you...idea-of-guaranteed-income-from-your-401k.html