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American Academy of Actuaries Letter to Congress Suggesting Improvements to the Proposed 'Lifetime Income Disclosure Act' (PDF)
American Academy of Actuaries
[Opinion] July 9, 2018 "[S]hould Congress take up the Lifetime Income Disclosure Act (S.868, H.R.2055), it could be improved in the following ways: [1] Provide more guidance to the [DOL] with respect to the lifetime income disclosure provisions ... [2] Exempt small employers from providing the income disclosure statement; however, require that they furnish employees with information regarding the DOL website tool and how to access it ... [3] Require that the DOL update its website to align with the legislation.... [4] Direct the DOL to create a better safe harbor that would relieve employers from fiduciary liability for providing retiree income options." MORE >> |
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