Testimony to the ERISA Advisory Council on the Topic of Lifetime Income Solutions as a Qualified Default Investment Alternative (QDIA)

This document is about the testimony of Kevin T. Hanney from United Technologies Corporation, describing the design and features of the Lifetime Income Strategy implemented within their 401(k) plan. It outlines how the strategy provides a thoughtful transition from wealth accumulation to guaranteed lifetime income for participants, and the benefits this has provided to both participants and the plan sponsor.