Department of Labor, Employee Benefits Security Administration: Default Investment Alternatives Under Participant Directed Individual Account Plans
GAO-08-256R: Nov 13, 2007
- Full Report:
GAO reviewed the Department of Labor, Employee Benefits Security Administration's (Labor) new rule on default investment alternatives under participant directed individual account plans. GAO found that (1) the final rule implements recent amendments to title I of the Employee Retirement Income Security Act of 1974, providing liability relief for any fiduciary of a participant directed individual account pension plan if the fiduciary complies with the final rule; and (2) with the exception of the 60-day period prior to the effective date, Labor complied with the applicable requirements in promulgating the rule.