DoL Proposes to Include "Lifetime Income Illustrations in Benefit Statements
(Groom Law Group, May 9, 2013)
The Department of Labor recently published an Advance Notice of Proposed
Rulemaking (ANPRM) soliciting comments on their proposals to
mandate inclusion of lifetime income illustrations for 401(k)
plan participants and other defined contribution plans. This Groom Law
Group summary is a good explanation of the proposed changes to current
requirements.
Here is a link to the DoL's ANPRM
http://www.gpo.gov/fdsys/pkg/FR-2013-05-08/pdf/2013-10636.pdf
Here is our response to the ANPRM
http://howmuchcaniaffordtospendinretirement.webs.com/EBSA_benefit_statement_proposals.pdf
