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Compass
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Bates & Company, Inc.
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AimPoint Pension
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DOL Issues Interim Final Rule on Lifetime Income Disclosure
RSM US [Guidance Overview] Aug. 20, 2020 "The Interim Rule requires plans to also show participants the amount of estimated monthly payments they could receive ... over the life expectancy of a participant and a spouse by assuming that the participant is married (even if the participant is not actually married) and that the participant's spouse is the same age as the participant (regardless of a spouse's actual age).... This disclosure must be provided even where the plan does not provide any form of payment other than a lump sum.... The effective date of the Interim Rule is 12 months after it is published in the Federal Register." |
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