Lifetime Income Risk Joint Committee

The Lifetime Income Risk Joint Committee was formed to address the risks and related issues of inadequate guaranteed lifetime income among retirees. This issue has become more important as defined benefit plans are becoming less common and retirement plans are increasingly contribution oriented, such as 401(k) plans. The goal of the committee is to educate the public, financial advisors, employers, the media, lawmakers, and regulators on the risk of inadequate guaranteed lifetime income. The committee is currently evaluating the implications of the SECURE Act and providing recommendations to the Department of Labor as they develop regulations to implement the Act. This is a joint committee of the Life and Pension Practice Councils and is co-chaired by representatives from the two councils.