You may not have as much in your 401(k) for retirement as you think

You may not have as much in your 401(k) for retirement as you think

This one number will help you more accurately plan for retirement - thanks to the Secure Act.. As part of the new Secure Act, plan sponsors will have to show Americans how their account balances translate into monthly income.. "The benefit of including an estimated monthly income is it reframes how people think about that," Walsh said.. Under the Secure Act, plan sponsors will need to deliver that monthly figure in their annual statements to investors, but the law did not specify how.. The Secure Act made a few other changes to the country's retirement system , including expanding access to annuities in 401(k) plans and creating easier paths for small businesses to band together to offer retirement plans to employees.. There are many more people who do not have access to retirement plans ..