Lifetime Income Illustration Tool

This tool helps employers provide their participants an annual illustration of how their current savings in a qualified retirement plan might translate into lifetime monthly payments.

If your plan is subject to the Employee Retirement Income Security Act (ERISA), you will need to provide an annuity illustration that conforms to Department of Labor (DOL) guidance on the Setting Every Community Up for Retirement Enhancement (SECURE) Act provision, specifically the Interim Final Rule on Lifetime Income Illustrations.

Single Participant Illustration Multiple Participant Illustration

Charles Schwab & Co., Inc., and Convergent Retirement Plan Solutions, LLC are separate and unaffiliated firms. Neither is responsible for the services or policies of the other.

The Assumption & Explanation links below provide details on how the monthly payment illustration(s) are calculated as if the payments begin on the last day of the statement period. They must assume that a participant is age 67 on the assumed commencement, which is the Social Security full retirement age for most workers, or use the participant’s actual age, if older than 67.

Commencement Date Commencement Age Single Life Annuity Joint & Survivor Annuity Marital Status Assumptions Assumed Interest Rate Mortality Assumption Hypothetical Illustration No Increase for Cost of Living Total Benefits Accrued Outstanding Loans