• DOL Proposes Further Disclosures for Target Date Funds and Default Investments
  • December 7, 2010 | Authors: Daniel M. Buchner; Adam B. Cohen; Alice Murtos; Joanna G. Myers
  • Law Firms: Sutherland Asbill & Brennan LLP - Washington Office ; Sutherland Asbill & Brennan LLP - Atlanta Office ; Sutherland Asbill & Brennan LLP - Washington Office
  • On November 30, 2010, the Department of Labor (DOL) proposed new regulations requiring plan fiduciaries to provide enhanced disclosures about target date funds to retirement plan participants directing their own investments. The proposal would also amplify the investment information that must be disclosed about a plan’s qualified default investment alternative (QDIA), even if it is not a target date fund. DOL proposes that these amendments would be effective 90 days following publication of the final rule in the Federal Register. Comments on the proposed regulations must be received no later than January 14, 2011.