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After studying the effectiveness of qualified default investment alternatives (QDIAs) in retirement plans, the ERISA Advisory Council (EAC) has made recommendations to the Department of Labor – and sent three proposals to the DOL – regarding QDIAs. The EAC recommendations include creating a “tips document” to help fiduciaries in choosing QDIAs with lifetime income options, improving QDIA guidance, and providing for QDIAs in IRAs.
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