Committee Comments on Proposal to Add Lifetime Income Data to Pension Benefit Statements

The Pension Committee submitted its views to the Department of Labor regarding the agency’s proposal to add lifetime-income information to pension benefit statements. The committee commended the DOL for requiring lifetime income disclosures under section 105 of the Employee Retirement Income Security Act of 1974 and offered comments on specific topics, including assumed rates of return, drawdown illustrations, and projected retirement ages.