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The DOL Addresses How Much Retirement Income a 401(k) Account Provides

The DOL Addresses How Much Retirement Income a 401(k) Account Provides

As part of the SECURE Act passed late last year, the U.S. Department of Labor (DOL) is requiring employers to disclose more information to their employees about what kind of income their saved 401(k)s and other assets will potentially provide them in retirement. But the final proposal is still in the works.

Steve Parrish, co-director of the New York Life Center for Retirement Income, says the proposed rule is dependent on many factors like marital status, interest rates, and life expectancy. Read his analysis of the benefits and drawbacks in his latest Forbes column.

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