Understanding Employee Benefits and key developments in the employee benefits field and items of interest to our clients. MORE

My colleague Jeff Cairns recently blogged about a proposed regulation of the Department of Labor (DOL) that will require employers to include on plan statements estimates of the lifetime annuity amount that a participant’s 401(k) balance could buy. The DOL believes this information will help participants plan for retirement. Also to help participants plan for retirement, the DOL, the Social Security Administration and the Department of Health and Human Services have recently published a Retirement Toolkit that includes a list of government publications and interactive tools about retirement planning. The tool includes information on Medicare and Social Security benefits. Regardless of what happens to the DOL’s regulation project, employers could choose to publicize the availability of this tool to aid employees in their retirement planning.

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