Both the Obama Administration and Congress are considering ways in which Americans can become more aware of the need for guaranteed lifetime income.
For example, the Senate's Lifetime Income Disclosure Act would provide Americans with a picture of the income producing potential of their accumulated retirement assets.
Investment manager Putnam seems to have taken matters into its own hands in this regard. The company has just launched a Lifetime Income Analysis Tool that will be available to all of its 401k plan participants.
The Lifetime Income Analysis Tool will provide participants with a monthly retirement income statement that is derived from their accumulated savings.
Putnam has indicated that the tool will be available to financial advisors within three months.
Source: Investment News
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