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Comments of American Council of Life Insurers to DOL on Pension Benefit Statements (PDF)
American Council of Life Insurers [ACLI] Link to more items from this source
[Opinion]
July 15, 2013
26 pages. Excerpt: "We encourage the Department to include in its pension benefits statement rule that a participant's accrued benefit be expressed as estimated guaranteed monthly lifetime income payments. This will help to educate workers as to the value of their plan savings as a source of retirement income. It will assist them in evaluating such factors as their income need, savings adequacy, and the amount of income devoted to retirement savings. It reframes the defined contribution plan as a retirement plan that is intended to generate retirement income, rather than just a capital accumulation or savings plan."

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