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ARTICLE · 29 DECEMBER 2010

DOL Proposes Disclosure Rules for Target Date Retirement Funds

Morgan Lewis
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At the end of November, the U.S. Department of Labor (DOL) proposed disclosure rules for target date retirement funds used as investment options in participant-directed 401(k) and other individual account plans.

United StatesEmployment and HR
Donald Myers
Donald Myers
Michael Richman
Michael Richman

At the end of November, the U.S. Department of Labor (DOL) proposed disclosure rules for target date retirement funds used as investment options in participant-directed 401(k) and other individual account plans. The proposal would amend both the DOL regulation on "qualified default investment alternatives" (QDIAs), which was adopted in 2007, and the DOL regulation on participant-directed plan disclosures, which was just adopted in October 2010. It would require much more specific disclosures to plan participants on the features of target date retirement funds. In addition, the proposal would conform the QDIA disclosure requirements to the new participant-directed plan disclosure rules. The comment period on the proposal closes on January 14, 2011.

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