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The Small Business Add Value for Employees Act

This recently introduced bill would remove the “common bond” requirement for multiple employer plans, so that small businesses can “pool” together to offer retirement plans to their respective employees. The bill would also permit employers to rely on specific recommendations from life insurers concerning “state insurance regulator oversight and review” when contemplating the addition of an annuity product to a plan. It would also encourage lifetime income disclosure so that employees would understand how retirement account savings can convert to monthly income during retirement.; December 14, 2017.