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Letters to the editor

Simple idea isn’t so simple... Or is it?

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.

James Szostek
Vice President, Taxes & Retirement Security
American Council of Life Insurers