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Theres very little thats defined about defined contribution plans, leaving employees to their own devices and too often with little or no money saved for retirement, one of the governments top regulators said Tuesday.

Regulators say target-date funds that include deferred-income annuities don't violate ERISAs non-discrimination requirements.

They say that speed with which more plans sponsors are proceeding with de-risking measures makes the need for regulatory guidance urgent.

DOL wants to understand with granularity stakeholders problems and concerns regarding the revised rule, Perez says.

In 2013, it says, one-third of retirees received some retirement income from plan-sponsored assets, either their own or a spouses. In 1975, the rate was 21 percent.

In upholding the lower courts ruling, the 9th Circuit has furthered legal precedent in how sponsors can amend their floor-offset retirement plans.

The DOL is likely to hold broker-dealers who chase IRA rollovers to the same fiduciary standards that retirement advisors must meet.

Regardless of which political party prevails in next months midterm elections, Democrats and Republicans alike understand that one way to fatten the governments wallet is by cutting retirement tax incentives.