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Published: Sep 22, 2022 5 min read
Woman looking over retirement account statements
Money; Getty Images

Your next 401(k) statement may look like a scary Halloween prank, but don’t spit out your pumpkin spice latte just yet.

Changes are expected to Americans’ retirement plan statements thanks to federal legislation, and one act in particular — the 2019 SECURE Act — will require 401(k) savings to be presented as a monthly income stream in addition to the usual lump sum.

Investors in 401(k)s, a retirement savings and investment plan offered through employers, traditionally receive statements after each financial quarter showing information like overall savings, investment allocations, risk analysis and progress toward retirement savings goals. But lawmakers want to rewire how Americans think about those savings by breaking down the numbers to show what their financial situation could look like month-to-month based on their current 401(k) balance.