Employee Benefit Plans Conference 2018

EBP1866 - Stop Guessing: Using Plan Participant Data to Select a QDIA

May 17, 2018 9:45am ‐ May 17, 2018 11:00am

Standard: $49.00

Description

Starting in 2008, the Department of Labor provided plan sponsors with some level of cover when selecting a QDIA, or qualified default investment alternative, from three anointed types of qualified investment options:
1) target-risk or balanced funds
2) target-date funds
3) retirement managed accounts

To receive this cover, plan sponsors must follow a prudent QDIA selection process. When selecting a target-risk fund there is an obligation to consider plan demographics, that may carry over to selecting other QDIAs. Unfortunately, there has been a lack of clear guidance on practical methods for incorporating plan demographics into the selection of the QDIA.
• Identify what data plan fiduciaries are required to consider when selecting a QDIA
• Recognize how recent technological advances make it possible for plan fiduciaries to consider plan demographics when selecting a QDIA
• Recall how that same data can be used to choose an appropriate target-date fund glidepath
• Identify how the recent development of “dynamic default” solutions may factor into the QDIA decision

Speaker(s):

  • Tom Idzorek, CFA, Chief Investment Officer, Retirement, Morningstar Investment Management, LLC

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