Trust Updates Archive
(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. ******************** No statement in this issue is offered as or should be construed as legal opinion or advice or as an indicator of future performance. ************ To unsubscribe to Trust Updates go to To subscribe, click on the link below : • Trust Regulatory News • Trust Performance Report or • Fiduciary Earnings & Expenses Subscription request can also be sent to "circulation@trustupdates.com" or by calling 800-404-2116. -- 1992-2010 Copyright© A.M. Publishing, Inc., Trust Regulatory News |