Compliance August 26, 2010

DoL Announces Agenda, Speakers for Lifetime Income Hearing

The U. S. Department of Labor’s Employee Benefits Security Administration (EBSA) has released the agenda for the upcoming joint hearing with the Department of the Treasury on lifetime income options for retirement plans.
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The hearing is September 14 and 15, 2010, and the EBSA previously said witnesses will address issues relating to:   

•certain participant concerns affecting the choice of lifetime income relative to other options; 
•information to help participants make choices on the management and spend down of retirement benefits; 
•disclosure of account balances as monthly income streams; 
•the fiduciary safe harbor for selection of lifetime income issuers or products; and 
•alternative designs of in-plan and distribution lifetime income options. (see “DoL and Treasury to Hold Hearing on Lifetime Income Options“)

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Accompanying the agenda are copies of the witnesses’ requests to testify (http://www.dol.gov/ebsa/pdf/1210-AB33hearingagenda.pdf ) and testimony outlines (http://www.dol.gov/ebsa/regs/cmt-1210-AB33.html ). 

A live Webcast of the hearing will also be available through EBSA’s Web site. 
 
 

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