The SPARK Institute is worried the Department of Labor's proposed regulations on lifetime income illustrations are too narrowly focused.
The institute says it supports the concept of voluntary lifetime income illustrations being provided to retirement plan participants, but disagrees with forcing companies to offer this information in just one way.
"The institute is concerned that any mandate to furnish illustrations or conditions to a safe harbor that specify or appear to favor particular methodologies and assumptions will become the primary, or possibly the only, way that plan sponsors will be willing to provide such illustrations and planning tools," it said in a letter to the DOL.
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:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 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.
