Lifetime Income Disclosure Act
Georgia employees with 401(K)’s may be able to get more information on what they have in their accounts, if a bill introduced on December 4th in the U.S. Senate passes.
Georgia Senator Johnny Isakson (R-Georgia), joined by Senators Jeff Bingaman (D-New Mexico), and Herb Kohl (D-Wisconsin), have just introduced legislation that would require defined contribution plan sponsors to inform plan participants of the projected monthly income they could expect at retirement, based on their current account balance.
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