DOL: Lifetime Income Can Be Part of Prudent QDIA

by Jane Meacham, Contributing Editor The U.S. Department of Labor (DOL), in late December 2016, issued an information letter that indicated employer plan sponsors are entitled to use lifetime income products as a part of a prudent qualified default investment alternative (QDIA), even if the products contain certain liquidity and transferability restrictions.

Managing Default Options Is a Crucial Plan Sponsor Role, Study Says

With an ever-increasing number of private-sector retirement plan participants relying on automatic enrollment and the investment choices their employers select, the best way for plan sponsors to help these workers achieve a secure retirement is to choose and manage their default options well, a new survey suggests. The defined contribution investments unit of money manager […]

Retirement Plans: Final DOL Regulation on Qualified Default Investment Alternatives Protects 401(k) Fiduciaries

A new U.S. Department of Labor (DOL) regulation protects fiduciaries when selecting and investing employee assets in qualified default investment alternatives (QDIAs) for 401(k) plans. The rule, effective Dec. 24, 2007, expands the relief provided to plan fiduciaries under the federal Employee Retirement Income Security Act (ERISA) and should be particularly valuable to fiduciaries of […]