Department of Labor/Department of the Treasury Joint Hearing on Lifetime Income Options

This document is about a joint hearing held by the Department of Labor and Department of the Treasury on the topic of lifetime income options for defined contribution retirement plans. The hearing featured testimony from various industry experts, academics, and stakeholders who discussed the challenges and potential solutions for increasing access to and usage of lifetime income products in DC plans. Key topics covered include fiduciary liability concerns for plan sponsors, disclosure and education requirements, alternative product designs, and policy recommendations to encourage the adoption of lifetime income solutions.