SEC, DOL to Hold Joint Hearing Examining Target Date Funds
FOR IMMEDIATE RELEASE
Washington, D.C., May 12, 2009 — The Securities and Exchange Commission and the U.S. Department of Labor will hold a joint one-day hearing on June 18 to explore issues relating to target date or lifecycle funds and other similar investment options.
The hearing will be held at the Department of Labor, 200 Constitution Ave., NW, Washington, D.C. Details concerning the hearing will be announced by the agencies in the next few weeks.
As target date funds and similar investment options become increasingly popular, it is important that all investors, including 401(k) plan sponsors and participants, can adequately evaluate these investment options and safeguard their interests. The hearing will focus generally on issues facing investors in these types of products, and will explore topics such as portfolio composition, risk, and disclosure.
The agencies anticipate that witnesses will include representatives of plan participants and beneficiaries, plan sponsors, investor organizations, academia and the financial services industry.
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