To the editor:
Regarding “Simple idea really isn't that simple,” Pensions & Investments, April 17: Actually, it is simple. A lifetime income illustration reframes today's savings as an income stream … today. The Federal Thrift Savings Plan provides such an illustration to its participants. The TSP converts the current account balance to a stream of income assuming the participant is retiring now. Savers have a good sense as to what their savings can purchase today. What they need is a bit of help seeing their savings as monthly income. A simple lifetime income illustration does just that.
No one knows what tomorrow will bring. With a simple illustration, no crystal ball is needed.
Vice President, Taxes & Retirement Security
American Council of Life Insurers