TIPs for Fiduciaries Using Target Date Funds

The DOL issues informal guidance providing tips to fiduciaries of plans that use target date funds.

Document Excerpt

Target date retirement funds (also called target date funds or TDFs) have become an increasingly popular investment option in 401(k) plans and similar employee-directed retirement plans. The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) prepared the following general guidance to assist plan fiduciaries in selecting and monitoring TDFs and other investment options in 401(k) and similar participant-directed individual account plans. Employers and other plan fiduciaries can learn more about their fiduciary responsibilities under the Employee Retirement Income Security Act of 1974 (ERISA) by visiting EBSA’s website at www.dol.gov/ebsa/compliance_assistance.html.

 

Link http://www.dol.gov/ebsa/pdf/fsTDF.pdf

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