Friday, February 5, 2021 The US Department of Labor (DOL) unveiled an interim final rule (the “Lifetime Income Disclosure Rule”) that adds a new lifetime income disclosure requirement for administrators of defined contribution plans ( e.g., plans covered by Internal Revenue Code (Code) section 401(k) or Code section 403(b), profit-sharing plans and employee stock ownership plans). The Lifetime Income Disclosure Rule implements the provisions of the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act)—passed by Congress at the end of 2019—which require that defined contribution plan administrators include an estimated lifetime income stream of payments on the periodic participant benefit statements. For plans that are otherwise required to issue quarterly benefit statements, the Lifetime Income Disclosure Rule is clear that the lifetime income estimates may be provided on an annual basis.