Some workers with defined contribution retirement plans who learned that their expected retirement income might be lower than they anticipated, based on results from a lifetime income calculator, said they would increase their contributions, according to a report by the Employee Benefit Research Institute.
EBRI said it added a list of questions to its most recent annual retirement confidence survey that would provide respondents with a projected retirement lifetime income stream after the Department of Labor announced in May 2013 that it was considering guidance on lifetime income illustrations.
As defined contribution plans become the primary type of employer-sponsored retirement ...
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