The Department of Labor wants to know more about one of the more advanced options available in some 401(k) plans: brokerage windows.
The agency said Wednesday it's looking for the latest information about these self-directed brokerage accounts and "similar features."
Questions about the accessibility of, fiduciary responsibility for, and need for transparency and education about such features raised sufficient concerns that the DOL is finding it necessary to "to increase the Department's understanding of the prevalence and role of brokerage windows in participant-directed individual account plans covered by ERISA," according to the draft request for information, which was to be published in the Federal Register Wednesday.
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