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Institutional Retirement Income Council Comment Letter to DOL on Lifetime Income Illustration in Pension Benefit Statements (PDF)
Institutional Retirement Income Council [IRIC]
[Opinion] Aug. 9, 2013
"[L]ifetime income illustrations and projections should be mandated as part of the participant statements.... [T]he regulation should mandate a set of assumptions in order to obtain consistency.... [W]e propose that ... the retirement age used in all cases should be the Social security retirement age for the individual.... [T]he information should be included in quarterly benefit statements provided to the participants rather than sent as a separate notice."
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