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

Congressional hearings on the status of the Social Security system and studies on workers’ retirement readiness have sparked interest in lifetime income solutions from defined contribution plans. With 401(k) and other account based plans being the predominant form of retirement plan vehicle, the vast majority of workers will be relying on a 401(k) plan and