LIFETIME INCOME ILLUSTRATIONS: EXAMPLE
01.Core Concepts
Example from the Department of Labor (DOL): Cris is age 40 and single. Her account balance on December 31, 2025, is $125,000. The 10-year CMT rate is 1.83% per annum on the first business day of December. The benefit statement of this participant would show: • Current account balance: $125,000 • SLA: $645 per month for life (assuming Cris is age 67 on Dec. 31, 2025) • QJSA (100%): $533 per month for Cris’s life, and $533 for the life of spouse following Cris’s death (assuming Cris and her spouse are age 67 on Dec. 31, 2025)