PLANADVISER - May/June 2021 - 4
Legislative and Judicial Actions
compliance news //
GAO Is Asked to Review TDFs
Senator Patty Murray, D-Washington,
chairwoman of
the Senate Health,
Education, Labor and Pensions (HELP)
Committee, and House Representative
Bobby Scott, D-Virginia, chairman
of the House Education and Labor
Committee, have sent a letter to the
Government Accountability Office
(GAO), requesting it conduct a review
of target-date funds (TDFs).
According to the legislators, while
TDFs are billed as offering participants
retirement security by placing
their assets in an age-appropriate glide
path that grows more conservative as
they approach retirement, some of the
funds might actually be placing some
participants at risk. Specifically, they
say, expenses and risk allocations vary
considerably among funds.
Murray and Scott requested the
GAO look into 10 aspects of TDFs.
These are: 1) What percentage of
total defined contribution (DC) plan
The legislation
parallels,
but does not
exactly match,
the Securing
a Strong
Retirement Act ...
assets are invested in TDFs, as well
as what percentage of participants
are offered and participate in TDFs?
2) For participants invested in TDFs
who are approaching retirement, to
what extent have they been affected
by market fluctuations as a result of
the COVID-19 pandemic-and how
much variation is there in the performance
of TDFs of the same vintage? 3)
Do investors defaulted into TDFs reassess
their investments, and, if so, how
often? 4) How does the asset allocation
and fee structure vary across TDFs
used as qualified default investment
alternatives (QDIAs)? Along this line,
how do TDF fee structures compare
with other
investment products? 5)
How are TDFs marketed and advertised?
6) What percentage of plan
sponsors select off-the-shelf TDFs
and what percentage turn to custom
TDFs? Does one or the other deliver
different performance? 7) What kinds
of alternative investments do TDFs
invest in? 8) Has the Department of
Labor (DOL) taken steps to help sponsors
select appropriate TDFs for their
plan and to help educate participants
about these funds? 9) When a plan
does not have automatic enrollment
but has a TDF in its investment lineup,
what percentage of participants select
the TDF? 10) Are there legislative
4 | planadviser.com May-June 2021 Art by Dalbert B. Vilarino
http://www.planadviser.com
PLANADVISER - May/June 2021
Table of Contents for the Digital Edition of PLANADVISER - May/June 2021
Publisher’s Note
Compliance News
Data Points
Trends
Eyes On The Investment Menu
2021 PLANADVISER DCIO Survey: The State Of DCIO
The Promise Of Sustainable Investing
Wealth Transfers On The Horizon
Rollovers And Fiduciaries
Caution Needed Regarding Rollovers
Advisers Giving Back
PLANADVISER - May/June 2021 - Cover1
PLANADVISER - May/June 2021 - Cover2
PLANADVISER - May/June 2021 - 1
PLANADVISER - May/June 2021 - Publisher’s Note
PLANADVISER - May/June 2021 - 3
PLANADVISER - May/June 2021 - Compliance News
PLANADVISER - May/June 2021 - 5
PLANADVISER - May/June 2021 - 6
PLANADVISER - May/June 2021 - 7
PLANADVISER - May/June 2021 - Data Points
PLANADVISER - May/June 2021 - 9
PLANADVISER - May/June 2021 - Trends
PLANADVISER - May/June 2021 - 11
PLANADVISER - May/June 2021 - 12
PLANADVISER - May/June 2021 - 13
PLANADVISER - May/June 2021 - 14
PLANADVISER - May/June 2021 - 15
PLANADVISER - May/June 2021 - 16
PLANADVISER - May/June 2021 - 17
PLANADVISER - May/June 2021 - Eyes On The Investment Menu
PLANADVISER - May/June 2021 - 19
PLANADVISER - May/June 2021 - 20
PLANADVISER - May/June 2021 - 21
PLANADVISER - May/June 2021 - 22
PLANADVISER - May/June 2021 - 23
PLANADVISER - May/June 2021 - 24
PLANADVISER - May/June 2021 - 25
PLANADVISER - May/June 2021 - 2021 PLANADVISER DCIO Survey: The State Of DCIO
PLANADVISER - May/June 2021 - 27
PLANADVISER - May/June 2021 - 28
PLANADVISER - May/June 2021 - 29
PLANADVISER - May/June 2021 - 30
PLANADVISER - May/June 2021 - 31
PLANADVISER - May/June 2021 - 32
PLANADVISER - May/June 2021 - 33
PLANADVISER - May/June 2021 - The Promise Of Sustainable Investing
PLANADVISER - May/June 2021 - 35
PLANADVISER - May/June 2021 - Wealth Transfers On The Horizon
PLANADVISER - May/June 2021 - 37
PLANADVISER - May/June 2021 - Rollovers And Fiduciaries
PLANADVISER - May/June 2021 - Caution Needed Regarding Rollovers
PLANADVISER - May/June 2021 - Advisers Giving Back
PLANADVISER - May/June 2021 - Cover3
PLANADVISER - May/June 2021 - Cover4
https://www.planadviserdigital.com/planadviser/july_august_2021
https://www.planadviserdigital.com/planadviser/may_june_2021
https://www.planadviserdigital.com/planadviser/march_april_2021
https://www.planadviserdigital.com/planadviser/january_february_2021
https://www.planadviserdigital.com/planadviser/november_december_2020
https://www.planadviserdigital.com/planadviser/september_october_2020
https://www.planadviserdigital.com/planadviser/july_august_2020
https://www.planadviserdigital.com/planadviser/may_june_2020
https://www.planadviserdigital.com/planadviser/march_april_2020
https://www.planadviserdigital.com/planadviser/january_february_2020
https://www.planadviserdigital.com/planadviser/november_december_2019
https://www.planadviserdigital.com/planadviser/september_october_2019
https://www.planadviserdigital.com/planadviser/july_august_2019
https://www.planadviserdigital.com/planadviser/may_june_2019
https://www.planadviserdigital.com/planadviser/march_april_2019
https://www.planadviserdigital.com/planadviser/january_february_2019
https://www.planadviserdigital.com/planadviser/november_december_2018
https://www.planadviserdigital.com/planadviser/september_october_2018
https://www.planadviserdigital.com/planadviser/july_august_2018
https://www.planadviserdigital.com/planadviser/may_june_2018
https://www.planadviserdigital.com/planadviser/march_april_2018
https://www.planadviserdigital.com/planadviser/january_february_2018
https://www.planadviserdigital.com/planadviser/november_december_2017
https://www.planadviserdigital.com/planadviser/september_october_2017
https://www.planadviserdigital.com/planadviser/july_august_2017
https://www.nxtbookmedia.com