IRI Applauds Efforts to Increase Access to Lifetime Income Options

WASHINGTON, D.C. - The Insured Retirement Institute (IRI) released the following statement from IRI President and CEO Cathy Weatherford after the organization submitted its comment letter to the Department of the Treasury regarding its combined efforts with the Department of Labor to increase access to lifetime income options:

"The efforts taken by the Department of the Treasury and the Department of Labor to promote lifetime income strategies underscore the Administration's commitment to provide millions of Americans with additional tools to attain a secure retirement. Our members support the Treasury's proposed regulations and guidance, and we believe that these actions will help Americans who face unprecedented retirement income challenges--challenges that have only been compounded by longer life spans, the rising cost of health care and a shift from defined benefit to defined contribution plans. We applaud these efforts and encourage the Administration to take additional steps to continue to reduce barriers to attaining lifetime income, such as addressing plan sponsors' concerns regarding portability of lifetime income products. We stand ready to work with the Administration on these issues so that all Americans may enjoy a secure retirement."

For IRI's comment letter to the Department of the Treasury, click HERE.

About the Insured Retirement Institute: The Insured Retirement Institute (IRI) is a not-for-profit organization that for twenty years has been a mainstay of service, commitment and collaboration within the insured retirement industry.  Today, IRI is considered to be the authoritative source of all things pertaining to annuities, insured retirement strategies and retirement planning. IRI proudly leads a national consumer education coalition of nearly twenty organizations and is the only association that represents the entire supply chain of insured retirement strategies: our members are the major insurers, asset managers, broker dealers and more than 150,000 financial professionals. IRI exists to vigorously promote consumer confidence in the value and viability of insured retirement strategies, bringing together the interests of the industry, financial advisors and consumers under one umbrella. IRI's mission is to: encourage industry adherence to highest ethical principles; promote better understanding of the insured retirement value proposition; develop and promote best practice standards to improve value delivery; and to advocate before public policy makers on critical issues affecting insured retirement strategies and the consumers that rely on their guarantees. Visit www.IRIonline.org today to experience the vast resources of the Insured Retirement Institute for yourself.     

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