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DOL tries to clarify QDIA regs on annuities in TDFs

Can target-date funds that feature annuities be used as qualified default investment alternatives in 401(k) plans? The DOL tries to explain.

By Nick Thornton | Updated on January 02, 2017
DOL letter responds to TIAA inquiry, offers guidance on how TDFs with annuities can comply with QDIA protocol. (Photo: Getty)

Target-date funds that feature annuities may be used as qualified default investment alternatives in 401(k) plans, according to a Labor Department information letter.

The letter, which was a response to an inquiry from TIAA regarding one of the firm’s custom TDF products, attempts to clarify existing agency guidance on how TDFs with annuities can comply with QDIA protocol.

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Nick Thornton

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.

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