Leopurrd-401k Posted January 28, 2022 Posted January 28, 2022 hello! Can anyone point me in the direction of where the Lifetime Income Disclosure calculations are explained in detail. I have found the DOL calculator but I'm not great at finance and need to see all of the steps. Thank you!
C. B. Zeller Posted January 28, 2022 Posted January 28, 2022 https://benefitslink.com/boards/index.php?/topic/68165-lifetime-income-illustration-formula/ ugueth 1 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
Leopurrd-401k Posted January 28, 2022 Author Posted January 28, 2022 Thank you! That is helpful. Any idea on how to calculate the APR?
C. B. Zeller Posted January 28, 2022 Posted January 28, 2022 What software do you use? It probably has a way to calculate the APR. It might be labeled "present value factor" or something along those lines. Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
Lou S. Posted January 28, 2022 Posted January 28, 2022 From first principles or spitting it out of your actuarial software? Pretty sure I had to do the first one once upon a time for exams but now I just put the relevant Mortality Table and interest rate(s) in my valuation software and it spits out a list of APRs by age. As C.B. Zeller notes you make want to talk to your pension software folks and they should be able to point you in the right direction.
Leopurrd-401k Posted January 31, 2022 Author Posted January 31, 2022 Thanks to you both. I don't think we will be running this through software but I can check.
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