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|American Academy of Actuaries Testimony to the ERISA Advisory Council on Model Notices and Disclosures for Pension Risk Transfer (PDF)|
American Academy of Actuaries
May 28, 2015
"The [Academy] offers the following recommendations ...  Develop consumer information material to be made available on the DOL website, or another appropriate government or government-sponsored web portal, to provide objective information to plan participants being offered a lump sum distribution, either through a pension risk transfer transaction (i.e., lump sum window) or in the course of regular plan administration....  Consider additional mandatory disclosures to be made by plan providers to assist plan participants in evaluating a lump sum offer....  Review the current relative value disclosure requirements to ensure they are adequately addressing the needs of today's plan participants."
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