Enhancing Pension Benefits Statements for Defined Contribution Plans


SIFMA provides comments to the U.S. Department of Labor (DOL) on DOL’s Advanced Notice of Proposed Rulemaking (ANPRM) with regard to enhancing the information included in pension benefit statements for defined contribution plans, RIN 1210-AB20. SIFMA believes that regulatory efforts to encourage additional education should promote a range of approaches to help participants understand the lifetime income that is generated from their defined contribution account balance. While individualized benefit statement illustrations are one method, they are not the only way to engage participants at different points in their careers.