DOL & SEC Offer Guidance on Target Date Funds

The U.S. Department of Labor’s Employee Benefits Security Administration and the U.S. Securities and Exchange Commission today announced guidance to help investors and plan participants better understand the operations and risks of target date fund investments. The guidance, delivered via a joint Department of Labor and Securities and Exchange Commission “Investor Bulletin,” broadly defines target date funds and explains some of the differences between funds.

Follow the link below to view the DOL Press Release and the complete “Investor Bulletin”.

http://www.dol.gov/opa/media/press/ebsa/EBSA20100640.htm

Summit Financial released a short piece addressing the same issues the DOL & SEC recently discussed on Target funds back in April 2010. To read more on Target Date funds on the Summit website, please visit the “Industry News” section of our website.

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