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U.S. Securities and Exchange Commission

SEC, DOL Announce Panelists, Agenda for Joint Hearing on Target Date Funds


Washington, D.C., June 15, 2009 — The Securities and Exchange Commission and the Department of Labor (DOL) today announced the agenda and expected panelists for their June 18 joint hearing about target date funds and other similar investment options.

The joint hearing will be held at the DOL’s Washington, D.C., headquarters and will begin at 9 a.m. ET with opening remarks from SEC Chairman Mary Schapiro and DOL Deputy Secretary Seth Harris.

The joint hearing will consist of nine panels. Hearing witnesses will include representatives of plan participants and beneficiaries, plan sponsors, investor organizations, academia and the financial services industry.

9 a.m. — Opening Remarks

9:30 a.m. — Panel One: Introduction to Target Date Funds

  • Karrie McMillan, Investment Company Institute
  • Rich Whitney, T. Rowe Price Group, Inc.
  • John Ameriks, Vanguard Group
  • Derek L. Young, Fidelity Management & Research Company
  • Jeffrey Knight, Putnam Investments

10:20 a.m. — Panel Two: Target Date Fund Investor Considerations

  • Rod Bare, Morningstar, Inc.
  • David Certner, AARP
  • Joseph C. Nagengast, Target Date Analytics, LLC
  • Marilyn Capelli Dimitroff, Certified Financial Planner Board of Standards, Inc.

11:05 a.m. — Break

11:20 a.m. — Panel Three: Exploration of Glide Paths and Underlying Investments

  • Edward Moslander, TIAA-CREF
  • Seth J. Masters, AllianceBernstein L.P.
  • Anne Lester, J.P. Morgan Asset Management
  • Michael Case Smith, Avatar Associates
  • Jeffrey S. Coons, Manning & Napier Advisors, Inc.

Noon — Panel Four: Plan Sponsor Considerations

  • Ian Kopelman, representing The Profit Sharing/401(k) Council of America
  • Mark Wayne, representing National Association of Independent Retirement Plan Advisors
  • Allison Klausner, representing American Benefits Council
  • Jessica R. Flores, Fiduciary Compliance Center

12:45 p.m. — Break

1:30 p.m. — Panel Five: Utilization of Target Date Funds in Defined Contribution Plans

  • Jack VanDerhei, Employee Benefits Research Institute
  • Mark J. Warshawsky, Watson Wyatt Worldwide
  • Jodi DiCenzo, Behavioral Research Associates

2:05 p.m. — Panel Six: Understanding, Selecting, and Monitoring Target Date Funds

  • Josh Cohen, Russell Investments
  • Richard O. Michaud, New Frontier Advisors, LLC
  • Chip Castille, Barclays Global Investors
  • Lori Lucas, Callan Associates Inc.

2:50 p.m. — Break

3:05 p.m. — Panel Seven: Understanding, Selecting, and Monitoring Target Date Funds

  • James P. Lauder, Global Index Advisors, Inc.
  • Claiborne B. Morton III, Raymond James Financial Services
  • Richard C. Dunne, QDIA.com
  • Louis S. Harvey, DALBAR, Inc.

3:50 p.m. — Panel Eight: Disclosures related to Target Date Funds

  • Anne Tuttle, Financial Engines
  • David A. Krasnow, Pension Advisors
  • Randal McGathey, RM Consulting
  • Edward P. Moore, Edelman Financial Services, LLC

4:35 p.m. — Panel Nine: Target Date Funds and Other Investment Options

  • Michael Drew, Griffith Business School
  • Chris Tobe, Breidenbach Capital Consulting, LLC
  • Ross Bremen, NEPC, LLC
  • Mark Foley, Prudential Investment Management Services, LLC

5:20 p.m. — Closing Remarks

DOL’s headquarters is located at 200 Constitution Avenue, NW, in Washington, D.C. The joint hearing will be open to the public with seating on a first-come, first-served basis. Visitors will be subject to security checks. Any individuals with disabilities who may need special accommodations should notify Fred Wong, Employee Benefits Security Administration, U.S. Department of Labor, at (202) 693-8500. The joint hearing will be transcribed, and a live webcast will be available at the SEC and DOL Web sites. Captioning of the webcasts will be available. For additional information about the joint hearing, contact Tara Buckley in the SEC’s Division of Investment Management at (202) 551-6825.

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Modified: 06/15/2009