Borzi: Public Plans Should Follow Private Plan Disclosure Rules

At the annual National Association of Government Defined Contribution Administrators (NAGDC) conference in San Diego, Phyllis Borzi, head of DOL’s Employee Benefits Security Administration, opined that public plans should follow private plan disclosure rules even though she has no jurisdiction over them. Borzi cautioned administrators about people trying to separate plans from their money and the difference between lifetime income and annuities — all while mourning the demise of (and attack on) DB plans. Read more here.