The federal government should change the tax form that retirement plan services companies use to disclose plan expenses.[@@]
Thomas Kinzler, an associate general counsel in the retirement services unit at Massachusetts Mutual Life Insurance Company, Springfield, Mass., gave that advice Thursday at a meeting of the Employee Retirement Income Security Act Advisory Council, according to a written version of his testimony.
The council gives officials at the U.S. Department of Labor ideas about ways to update ERISA and improve ERISA compliance.
Kinzler spoke at a council working group meeting about ways to improve Form 5500, the employee benefit plan tax form.