Requiring employers to provide retirement income estimates

Source: Michelle Singletary - The Washington Post

If you have a defined benefit pension or a traditional plan provided by your employer, federal law says you must be given an illustration of how much money you can expect to receive each month.

But if you have money invested in a 401(k), the only thing you may see is a lump sum amount and little if any direction on how that money translates into a monthly payment.

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