BLOOMBERG BNA WEBINAR EVENT: Fiduciary Considerations in Selecting Target Date Funds as Default Investment Alternatives
Wednesday, August 28, 2013
1:00 PM - 2:30 PM ET
Due to a regulatory safe harbor created by the U.S. Department of Labor (DOL) in 2008, the use of target date funds has become commonplace in Section 401(k) plans and other defined contribution pension plans that allow participants to direct their own investments. Further, such funds are often designated as the plans’ default investment option for participants and beneficiaries who fail to select their own investments.
However, recent studies show that many assumptions underlying the appropriateness of target date funds in the employee benefit context do not always reflect reality. Because of this, there are steps that plan fiduciaries and the attorneys advising them should take in connection with the selection and monitoring of target date funds in order to ensure that they are satisfying their fiduciary duties and helping participants and beneficiaries secure sufficient funds for retirement.
This program will alert practitioners who represent participant-directed plans (or plan sponsors of such plans) about recent DOL and related guidance important to the fiduciaries of such plans who are hoping to rely on the safe harbor for selecting a qualified default investment alternative.
- Understand the background of the ERISA framework for choosing a default investment alternative and the protection that provides fiduciaries.
- Learn about Department of Labor regulations and the proliferation of target date investment funds as the default alternative.
- Find out about the varying frameworks and issues involving target date investment funds.
- Discover steps for ERISA fiduciaries to take before selecting a target date investment fund as the default option for their plan.
Who would benefit most from attending the program?
Practitioners who represent participant-directed defined contribution retirement plans or their fiduciaries.
Program Level: Intermediate.
Credit Available: CLE. For more information, please click on the “CLE Credit” tab.