The Department of Labor's Employee Benefits Security Administration is giving people more time to comment on possible regulations on lifetime-income statements for defined contribution plan participants.
EBSA published an advance notice of proposed rule-making May 8 in the Federal Register with a July 8 deadline; that deadline now moves to Aug. 7.
In the original notice, EBSA officials said they are considering having accrued benefits expressed as both an account balance and an estimated lifetime stream of payments, and they intend “to consider all reasonable alternatives to direct regulation.”
