October 2, 2012 (PLANSPONSOR.com) – A new book was created to help plan sponsors educate workers about how to generate lifetime income in retirement.
“Money for Life: Turn your IRA and 401(k) Into a Lifetime Retirement Paycheck,” outlines specific action steps, paired with illustrations and graphs, and features three methods for generating retirement income from retirement savings, explaining the pros and cons, the varieties and permutations.
The book also includes:
- The Money for LIFE retirement income rating system, a step-by-step process that guides readers to the retirement income solution that is best for their circumstances;
- The Retirement Income Scorecard, which helps people compare how much retirement income they will receive under various income-generating methods; and
- A checklist of considerations for working with financial advisers.
“With the decline of traditional defined benefit pension plans and the rise of self-directed retirement plans, including 401(k) plans, addressing these retirement dilemmas is one of the most important challenges facing employers, individuals and the entire retirement industry today,” said Steve Vernon, the book’s author and president of retirement education consulting firm Rest-of-Life Communications.
Plan sponsors who are interested in incorporating Money for Life as part of their retirement education and planning programs should visit www.restoflife.com.