In our last newsletter, we wrote about the DOL's Advance
Notice of Proposed Rule Making (ANPRM) concerning the projection of
retirement income on ERISA participant benefit statements. Since
that article was published, a number of plan sponsor and service
provider organizations have filed their comments with the DOL, and
the comment period has now expired. This article contains a general
summary of the comments and our view of the next steps.
The DOL will now begin its review of the comments filed by the
private sector. Many of the comments were thoughtful and
detailed... which will give meaningful input to the regulatory
process. Different comments filed by a number of knowledgeable and
credible organizations supported almost all of the alternative
approaches suggested by the DOL, meaning that the comments often
conflicted with each other. Also, many of the organizations noted
significant disagreement on key issues even within their own
membership. As a result, the
