The ongoing Pension Risk Transfer (PRT) litigation poignantly demonstrates the growing importance of the SECURE Act’s “Annuity Safe Harbor” provision to the continuing efforts to design and develop responsive DC Lifetime Income programs.

The PRT plaintiffs claim fiduciary violations of the DOL’s “safest available annuity” (or “SAU”) requirements under DOL Reg 29 CFR 2550.404a–4 by…