What employers should know about lifetime income disclosure requirements for defined contribution plans
By EsqSocial Corporation 03/11/20
Section 203 of the Setting Every Community Up for Retirement Enhancement Act (“SECURE Act”) amends the disclosure rules under Section 105 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), to add an annual lifetime income disclosure requirement for all defined contribution plans subject to ERISA. According to the legislative history of the SECURE Act, the purpose of the new requirement is to help a defined contribution plan participant understand how his or her plan...
By: Thompson Coburn LLP