[Federal Register Volume 78, Number 135 (Monday, July 15, 2013)]
[Proposed Rules]
[Page 42027]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-16739]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration

29 CFR Part 2520

RIN 1210-AB20


Proposed Amendment To Advance Notice of Proposed Rulemaking for 
Pension Benefit Statements

AGENCY: Employee Benefits Security Administration, U.S. Department of 
Labor.

ACTION: Notice of Extension of Comment Period for Advance Notice of 
Proposed Rulemaking.

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SUMMARY: The Department of Labor is extending until August 7, 2013, the 
comment period for an 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.

DATES: The Department of Labor is extending the comment period of an 
advance proposed rule published May 8, 2013, 78 FR 26727. Written 
comments must be received by the Department on or before August 7, 
2013.

ADDRESSES: You may submit comments, identified by RIN 1210-AB20, by one 
of the following methods:
    Federal eRulemaking Portal: http://www.regulations.gov. Follow the 
instructions for submitting comments.
    Email: [email protected]. Include RIN 1210-AB20 in the subject line of 
the message.
    Mail: Office of Regulations and Interpretations, Employee Benefits 
Security Administration, Room N-5655, U.S. Department of Labor, 200 
Constitution Avenue NW., Washington, DC 20210, Attention: Pension 
Benefit Statements Project.
    Comments received will be available for public inspection in the 
Public Disclosure Room of the Employee Benefits Security 
Administration, U.S. Department of Labor, Room N-1513, 200 Constitution 
Avenue NW., Washington, DC 20210. They also will be available online at 
www.regulations.gov and www.dol.gov/ebsa, at no charge. Warning: Do not 
include any personally identifiable information (such as name, address, 
or other contact information), or confidential business information, 
that you do not want publicly disclosed. All comments may be posted on 
the Internet and can be retrieved by most Internet search engines.

FOR FURTHER INFORMATION CONTACT: Suzanne Adelman or Tom Hindmarch at 
(202) 693-8500. This is not a toll free number.

SUPPLEMENTARY INFORMATION: On May 8, 2013, the Department of Labor 
(Department) published at 78 FR 26727 an advance notice of proposed 
rulemaking (ANPRM) regarding the pension benefit statement requirements 
under section 105 of the Employee Retirement Income Security Act of 
1974, as amended (ERISA). The ANPRM requested comments on specific 
language and concepts the Department is considering as part of proposed 
regulations currently under development.
    The ANPRM provides that the Department is considering a rule that 
would require a participant's ``total benefits accrued'' to be 
expressed on his pension benefit statement as an estimated lifetime 
stream of payments, in addition to being presented as an account 
balance. The ANPRM also states that the Department is considering a 
rule that would require a participant's account balance to be projected 
to his retirement date and then converted to and expressed as an 
estimated lifetime stream of payments.
    The comment period for the ANPRM is scheduled to close on July 8, 
2013. A substantial number of stakeholders are concerned that the 
original 60-day comment period is not sufficient to provide well 
thought out and useful feedback to the Department on the complex 
matters raised in the ANPRM. Accordingly, to ensure that all interested 
persons have the opportunity to prepare and submit comments, EBSA 
extends the comment period from July 8 to August 7, 2013.

    Signed at Washington, DC, this 8th day of July, 2013.
Phyllis C. Borzi,
Assistant Secretary, Employee Benefits Security Administration, 
Department of Labor.
[FR Doc. 2013-16739 Filed 7-12-13; 8:45 am]
BILLING CODE 4510-29-P