SumDay
Thinks s/he gets paid by the post
- Joined
- Aug 9, 2012
- Messages
- 1,862
Administrators of 401(k) and other defined contribution (DC) plans might have to show current and projected account balances and related lifetime income streams on benefit statements, under a Department of Labor (DOL) advance notice of proposed rulemaking. DOL offers safe-harbor approaches for account balance projections and annuity conversions, along with a detailed example and online calculator.
Fact sheet: http://www.dol.gov/ebsa/pdf/fsanprm.pdf
Proposal from Federal Register: https://www.federalregister.gov/articles/2013/05/08/2013-10636/pension-benefit-statements <yawn>
Lifetime income calculator: http://www.dol.gov/ebsa/regs/lifetimeincomecalculator.html