Bright lines and safe harbors: the DOL's draft interpretive bulletin on investment education

Article Abstract:

The Dept of Labor's draft bulletin on investment education seeks to address the distinction between investment education and investment advice. The bulletin presents four categories of information, described as 'safe harbors,' that are generally not considered investment advice. Plan information includes the advantages of participation, impact of pre-retirement withdrawals and investment information required by 404(c) regulations. The second safe harbor includes general financial and investment information such as general financial investment concepts and asset classes. The third safe harbor covers asset allocation models and the fourth one refers to interactive investment materials.

Information services, United States. Department of Labor

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The 1995 Retirement Confidence Survey: Is workers' confidence in their retirement income prospects justified?

Article Abstract:

Most American workers believe their level of retirement savings is adequate, and others believe that Americans do not save enough money for their retirement according to a survey conducted by the Employee Benefit Research Institute. Most of those who are confident about their retirement income have not begun saving for their retirement or are saving but have not estimated how much retirement money they need. Employment-based retirement savings plan sponsors need to educate all employees on how to make adequate investment choices to meet their retirement income needs.

Surveys, Retirement planning, Retirement income

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A new fiduciary challenge to 401 (k) plan sponsors

Article Abstract:

Employers must continue to recognize their responsibility to keep pension plan participants fully informed of their state of finances. Court cases, such as those against US West Communications Inc and Unisys Corp, have added impact on the increasing need for comprehensive financial education of pension plan participants. Information should also be given to plan participants of the 401 (k) plan who intend to make major investment decisions.

Cases, Laws, regulations and rules, Salary reduction savings plans, 401K plans, Fiduciary duties

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