For Immediate Release: June 27, 2013
Contact: Mike Trupo or Jason Surbey
Phone: 202-693-6588 or 202-693-4668
US Department of Labor announces extension of comment period on lifetime income illustration proposal
WASHINGTON – The U.S. Department of Labor's Employee Benefits Security Administration today announced an extension of the comment period on its advance notice of proposed rulemaking focusing on lifetime income illustrations given to participants in defined contribution pension plans, such as 401(k) and 403(b) plans. The ANPRM serves as a request for comments on specific language and concepts in advance of a proposed regulation.
The ANPRM has generated substantial interest by stakeholders who wish to provide input into the development of proposed regulations. Some stakeholders indicated in writing that the original 60-day comment period is not enough time given the significance of the issues addressed in the ANPRM. To ensure that all interested persons have the opportunity to prepare and submit comments, EBSA is extending the comment period from the original July 8 deadline to August 7, 2013. Notice of this extension will be published in an upcoming edition of the Federal Register in order to reach as many stakeholders as possible.
Public comments on the ANPRM are available on EBSA's website at http://www.dol.gov/ebsa.
U.S. Department of Labor news materials are accessible at www.dol.gov. The information above is available in large print, Braille, audio tape or disc from the COAST office upon request by calling 202-693-7828 or TTY 202-693-7755.