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Prudential Retirement Comment Letter to DOL on Lifetime Income Illustrations in Pension Benefit Statements (PDF)
Prudential Retirement Link to more items from this source
[Opinion]
July 18, 2013
11 pages. Excerpt: "While we believe lifetime income illustrations represent an important tool in assisting participants in assessing their retirement readiness, we are concerned that far too few of today's participants have access to guaranteed lifetime income options in their retirement plan to achieve what will be illustrated.... [We] encourage the [DOL] to take steps to remove impediments to plan sponsors offering both guaranteed lifetime income solutions as part of their plan design and programs and materials designed to prepare plan participants for retirement.... [W]e believe modifying the safe harbor applicable to the selection of annuity issuers to provide clarity and certainty for plan fiduciaries and expanding Interpretive Bulletin 96-1 to encompass retirement-related programs and materials are a necessary complement to your lifetime income illustration initiative."

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