DOL Throws Stumbling Block In Way of Lifetime Income Options Serving as Default Investment Option

Because of a recent information letter issued by the DOL, it is unlikely many plan sponsors will adopt a lifetime income option as the default investment in their 401(k) plans. This letter, issued to TIAA, makes it clear lifetime income options cannot serve as a QDIA in 401(k) plans. In recent years, there has been … More DOL Throws Stumbling Block In Way of Lifetime Income Options Serving as Default Investment Option