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Target Date Funds - Tips for ERISA Plan Fiduciaries From the Department of Labor

May 6, 2013 / by NEPC

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At the end of February, the U.S. Department of Labor Employee Benefits Security Administration (EBSA) issued general guidance to assist plan fiduciaries with selecting and monitoring target date funds and other investment options in 401(k) and similar participant-directed plans.  The fact sheet titled, “Target Date Retirement Funds—Tips for ERISA Plan Fiduciaries”, quickly garnered attention and press, not all of it favorable, in part because EBSA did not follow a typical regulatory process in which language is proposed and a comment period follows.  In this research paper, two Partners in NEPC’s Defined Contribution Practice discuss the document and its plain-English messages to plan fiduciaries on how to compare, select and periodically review defined contribution plan investment options. 

Topics: Defined Contribution

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