Plan sponsors, service providers and others in the defined contribution business are asking the Department of Labor to tread lightly as it considers new regulations for brokerage windows.
At issue is the question of whether self-directed brokerage windows expose plan participants to "imprudent" risk and whether sponsors can safely side-step fiduciary duty in making them available.
As is, the DOL requires sponsors to furnish participants with information on how brokerage windows work, an explanation of fees that are assessed, and a statement on fees charged to participants when they access the windows.
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