DOL Officials Discourage Advisory Arm Pension De-Risking Study

Senior US Labor Department officials told a public retirement policy advisory council not to conduct a study on the agency’s regulatory approach to pension plan de-risking, even though a new law requires the group’s consultation.

At least two officials with DOL’s Employee Benefits Security Administration told the ERISA Advisory Council at a meeting earlier this month that its involvement in studying pension plans that transfer their assets to insurance companies would be redundant, attendees told Bloomberg Law. Officials said the council wouldn’t be able to conclude its work within the department’s one-year timeline for drafting a report to Congress.

Critics ...