The qualified default investment safe harbor the Department of Labor created in 2007 could be a safer one, according to the Government Accountability Office.
Regulatory and liability uncertainty in the safe harbor could be leading some plan sponsors to make suboptimal selections from the three qualified default investment alternative options laid in the DOL's safe harbor, according to a new report from the GAO.
Eight years after parameters were set for which products sponsors could default plan participants into after automatically enrolling them, target date funds have aggregated upwards of one trillion dollars of retirement savings, according to some estimates.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
