IRI Delivers RFI to Treasury, Labor on Lifetime Income

The Insured Retirement Institute on Thursday sent a “broad, comprehensive” response to the request for information on lifetime income that the U.S. Departments of Treasury and Labor recently issued.

The RFI covers four areas: 1.) Incentivizing employers to offer guaranteed lifetime income options in defined contribution plans, 2.) Educate Americans about the benefits of lifetime income so that they might invest in annuities and similar products even if their 401(k) plan doesn’t offer them, 3.) Simplify rules and administrative burdens on workplace savings plans, and 4.) Eliminate administrative barriers and regulatory uncertainty on educational materials in DC plans.

“Our members represent the complete food chain of insured retirement strategies, including major insurers, broker/dealers, asset managers, banks and financial advisers,” noted IRI President and CEO Cathy Weatherford. “That’s why our response is so unique—it encompasses the worldview of every facet of the industry.”