Trust Updates Archive

Lifetime income options webcast retirement Employment Benefit Securities Administration Trust Regulatory News A.M. Publishing DOL Live Webcast of Lifetime Income Options Hearing

(September 13, 2010 --Chicago, IL) -- The U.S. Department of Labor's Employee Benefits Security Administration (DOL) and the U.S. Treasury on September 14 will webcast their joint hearings on lifetime income options.

For a list of witnesses and copies of prepared testimony go to http://www.dol.gov/ebsa/.

The need for industry feedback is “particularly important given the shift from defined benefit plans to 401(k) and other defined contribution plans that typically distribute retirement savings in a lump sum payment,” said Phyllis C. Borzi, DOL assistant secretary for the Employee Benefits Security Administration.

Topics to be addressed include:
* certain specific participant concerns affecting the choice of lifetime income relative to other options;
* information to help participants make choices on the management and spend down of retirement benefits;
* disclosure of account balances as monthly income streams;
* the fiduciary safe harbor for selection of lifetime income issuers or products; and
* alternative designs of in-plan and distribution lifetime income options.


WHAT: Joint regulatory hearing on Lifetime Income Options for retirement plans
WHEN: September 14, 2010, 9 am
WHERE: Webcast at http://www.dol.gov/ebsa/ or 200 Constitution Ave., N.W. in Washington, D.C.


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