May 20, 2024

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DOL Issues Interim Final Rule on Lifetime Income Disclosures for Defined Contribution Plans

The Setting Every Group Up for Retirement Enhancement (Protected) Act of 2019 essential, for the to start with time, that administrators of defined contribution strategies (this sort of as 401(k) strategies) give individuals with disclosures with regards to estimated life time earnings payments. Such estimates are made to support employees assess their ability to retire by supplying them an educated estimate of how their savings in the approach may translate into life time earnings payments……
By: Bradley Arant Boult Cummings LLP