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DOL/EBSA RIN: 1210-AB38 Publication ID: Spring 2017 
Title: Target Date Disclosure 
Abstract:

This rulemaking will amend the Department's qualified default investment alternative regulation (29 CFR 2550.404(c)-5), which provides relief from certain fiduciary responsibilities for fiduciaries of participant-directed individual account plans who, in the absence of directions from a participant, invest the participant's account in a qualified default investment alternative. This amendment will provide more specificity to fiduciaries as to the investment information that must be disclosed in the required notice to participants and beneficiaries. This amendment also will enhance the information that must be disclosed concerning target date, or similar age-based, qualified default investment alternatives. The Department published in the Federal Register, at section 2550.404(a)-5 (75 FR 64910, Oct. 20, 2010), a final regulation that requires the disclosure of certain plan and investment-related information, including fee and expense information, to participants and beneficiaries in participant-directed individual account plans (the participant-level disclosure regulation). The proposed rulemaking also will amend the participant-level disclosure regulation to require the disclosure of the same information concerning target date, or similar investments, to all participants and beneficiaries in participant-directed individual account plans.

EBSA is withdrawing this entry from the agenda at this time.  Withdrawal does not necessarily mean that EBSA will not proceed with the rulemaking in the future. Withdrawal allows EBSA to assess the subject matter further and determine whether rulemaking in this area is appropriate.  Following such an assessment, EBSA may determine that rulemaking is appropriate.  If that determination is made, this or a similar matter will be included in a succeeding semiannual agenda.

 
Agency: Department of Labor(DOL)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 29 CFR 2550.404(c)-5   
Legal Authority: 29 U.S.C. 1135    ERISA sec 505    29 U.S.C. 1104   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/30/2010  75 FR 73987   
NPRM Comment Period End  01/14/2011    
NPRM Reopening Comment Period  05/24/2012  77 FR 30928   
NPRM Reopening Comment Period Ends  07/09/2012 
Reopen Record (NPRM)  06/03/2014  79 FR 31893   
Reopen Record (NPRM) Comment Period End  07/03/2014 
Withdrawn  03/30/2017 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Jeffrey J. Turner
Deputy Director, Office of Regulations and Interpretations
Department of Labor
Employee Benefits Security Administration
Room N5669, 200 Constitution Avenue NW, FP Building, Room N-5655,
Washington, DC 20210
Phone:202 693-8500