DOL: Default Investment Regulation

ABA Contact: Compliance staff
Comments Due: November 13, 2006
Disposition: Filed


The ABA submitted comments on the DOL's proposed regulations regarding qualified default investment alternatives (QDIAs). The letter requested clarification of the following points:

(1) That the prohibition on imposing financial penalties does not preclude compliance with SEC Rule 22c-2;

(2) That bank trustees are not precluded from serving as investment manager of a QDIA;

(3) That the 30-day notice requirement would not apply under certain limited circumstances (such as in the case of new hires) where such notice may not be practical; and

(4) That there is no requirement to provide to QDIA participants investment materials that are not normally provided to non-QDIA participants.

2006 Regulatory Chart
ABA Comment Letter
Federal Register