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ARTICLE · 02 OCTOBER 2006

DOL Proposes Default Investment Regulations Under ERISA

Sutherland Asbill & Brennan LLP
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On September 27, 2006, the Department of Labor ("DOL") proposed regulations to provide ERISA relief to fiduciaries of participant-directed defined contribution plans that invest participant accounts in certain types of default investment alternatives in the absence of participant investment directions.

United StatesFinance and Banking

Originally published September 27, 2006

By George H. Bostick, Daniel M. Buchner, Adam B. Cohen, Ian A. Herbert, Alice Murtos, Robert J. Neis, W. Mark Smith, William J. Walderman

On September 27, 2006, the Department of Labor ("DOL") proposed regulations to provide ERISA relief to fiduciaries of participant-directed defined contribution plans that invest participant accounts in certain types of default investment alternatives in the absence of participant investment directions. This proposal is the first regulation issued under and implements certain provisions of the

Pension Protection Act of 2006 ("PPA"), enacted on August 17. For a discussion of the default investment provisions of the statute, click here. This relief will be of considerable utility to plans with automatic enrollment procedures; however, it is also available to plans with voluntary enrollment procedures.

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