Do We Need to Mandate Lifetime Income Disclosures?

The notion of including those disclosures on participant statements is hardly new; the Labor Department has contemplated, and asked for comment on same, more than once.  And the Lifetime Income Disclosure Act – last introduced in 2017 – has had previous iterations as well.

But if those proposed disclosures have yet to find their way into final form, some recordkeepers at least have begun providing that information on their own initiative.

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* 1. Are the recordkeepers you work with already providing lifetime income disclosures on participant statements?

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* 2. Are you familiar with the assumptions they use for those disclosures?

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* 3. Do you think those disclosures are having an impact?

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* 4. Do you think a disclosure safe harbor is needed?

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* 5. Do you think we need a legislative solution?

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* 6. Of the providers you work with who provide a lifetime income solution, which one is your favorite?

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* 7. Other comments about lifetime income disclosures, mandatory lifetime income disclosures, the need for lifetime income disclosures, the impact of lifetime income disclosures, or life in general?

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* 8. What is your role working with retirement plans?

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* 9. What size plans do you PRIMARILY work with?

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* 10. Suggestions for future survey questions?

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* 11. All responses are anonymous and confidential, of course - but if you'd like me to know who you are, or allow for a response, you can leave your email below...

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