Bipartisan, companion legislation recently introduced in Congress would require the Labor Department to dust-off a retirement policy proposal that first circulated in the early days of the Obama Presidency.
The Lifetime Income Disclosure Act of 2017 is the latest legislative effort that would amend the Employee Retirement Income Security Act to mandate annual income disclosures on 401(k) and other defined contribution account documents.
The language in the legislation is identical to a bill introduced in 2009, early in the 111th Congress.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
