The agenda is spread out over two days, beginning at 9:00 a.m. (EST) on September 14 and running through 3:45 p.m. the following day, with 15 panels of varying lengths, apparently depending on the number of panellists (2-4 panelists). The hearing was announced earlier this month (see DoL and Treasury to Hold Hearing on Lifetime Income Options).
The requests to testify (indicating what the firms/individuals have asked to address) are available on EBSA’s website at http://www.dol.gov/ebsa/regs/cmt-1210-AB33.html. The hearing agenda is available at http://www.dol.gov/ebsa/pdf/1210-AB33hearingagenda.pdf.
The hearing was designed to hear testimony regarding:
- certain participant concerns affecting the choice of lifetime income relative to other options;
- information to help participants make choices on the management and spend down of retirement benefits;
- disclosure of account balances as monthly income streams;
- the fiduciary safe harbor for selection of lifetime income issuers or products; and
- alternative designs of in-plan and distribution lifetime income options.
The hearing will be held in the Labor Department’s main auditorium, 200 Constitution Ave., N.W. in Washington, D.C., and a live webcast of the hearing will be available on EBSA’s website at http://www.dol.gov/ebsa.