DOL considers lifetime-income-illustration rule

05/8/2013 | AdvisorOne

The U.S. Labor Department is seeking input on a proposed rule related to illustrations of lifetime income for defined-contribution-plan participants. "We are looking for the best ideas on how to show people what their lump-sum retirement savings look like when they are spread out over all the years of retirement," said Phyllis Borzi of the department's Employee Benefits Security Administration.

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