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Plan Sponsors Have a Deadline to Provide Lifetime Income Illustrations
Porter Wright Morris & Arthur LLP 
[Guidance Overview] Sept. 23, 2021 "Plans that must issue quarterly statements can incorporate their first lifetime income illustration on any quarterly statement up to the second calendar quarter of 2022 (ending June 30, 2022).... For plans under which a participant or beneficiary has their own account but does not have the right to direct the investment of assets in that account, the lifetime income illustrations must be on the statement for the first plan year ending on or after Sept. 19, 2021." |
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