Do We Need to Mandate Lifetime Income Disclosures?

There’s no mandate to include lifetime income disclosures on participant statements – and yet, some providers are already doing so. What’s happening with the plans you work with?

The notion of including those disclosures on participant statements is hardly new; the Labor Department has contemplated, and asked for comment on same, more than once. And the Lifetime Income Disclosure Act – last introduced in 2017 – has had previous iterations as well.

But if those proposed disclosures have yet to find their way into final form, some recordkeepers at least have begun providing that information on their own initiative.

This week, we’d like to know if the recordkeepers you are working with are doing so, and if you think it is making a difference.

REPLY to this week’s NAPA-Net reader poll at https://www.research.net/r/2J693J9.

And we’ll have it all wrapped up for you on Friday!

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