Have you worked with plan sponsors who have, or who have considered, adopting a qualified default investment alternative (QDIA)?
The Government Accountability Office (GAO) wants to hear from fiduciaries of defined contribution plans who have considered adopting or who have adopted a QDIA for their plan – and they have developed a mechanism so that those fiduciaries can share that information anonymously.
As we previously reported here, members of NAPA's leadership met with GAO representatives to gain insights for a new study the GAO is conducting on the use of QDIAs in 401(k) plans. As part of that study, the GAO has developed a short, on-line questionnaire to gather some information, anonymously if desired.
If you have any defined contribution/401(k) plan clients that either have considered adopting or have adopted a QDIA for their plan, you can send them the link to the on-line questionnaire, which can be completed through Dec. 19, 2014.
In case your clients may be concerned about providing information about their QDIA consideration process, we have been assured by the GAO that the responses are confidential, the GAO will not attribute any information provided to any individual or company, and the GAO is not auditing or analyzing the policies or practices of any individual plan sponsor.
Ronald J. Triche, Esq., APM, is NAPA's General Counsel and Director of Government Affairs. You may reach him at [email protected].
