LIMRA announced Thursday it has provided information and industry data to the U.S. Treasury Department and Labor Department as part of a response to a request for information (RFI). The organization hopes to assist the federal government as it examines the role that guaranteed lifetime income options can play in workplace retirement plans.
On Feb. 1, the departments of Treasury and Labor issued the RFI seeking input on ways to help retirees meet a growing challenge: how to convert savings from 401(k) plans or similar plans into a guaranteed stream of lifetime income.
"LIMRA has 94 years of comprehensive, independent and objective research that can provide the facts policymakers need as they determine how to promote retirement security for American workers," said Robert Kerzner, president and CEO of LIMRA, LOMA and LL Global, in a statement released on May 6. "With 3 million Americans retiring this year and even more in each of the coming years–it is important that any decisions our government makes are informed ones."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
