GAO to look at TDFs, other QDIAsNews added by Benefits Pro on August 4, 2014

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By Nick Thornton

Following up on its calls for stricter oversight of managed account providers to 401(k) plans, the Government Accountability Office is undertaking a review of qualified default investment alternatives in 401(k) plans.

The latest study was initiated after the GAO completed its investigation of managed accounts, which spawned the agency's interest in the relationship that managed accounts have with the QDIAs they use in 401(k) plans, specifically target-date funds and stable value funds.

Its review has been expanded to include all QDIAs.

Representatives from the National Association of Plan Advisors reportedly met recently with GAO researchers, discussing the QDIA options available to sponsors, how they have performed, what risks are associated with them, their fees relative to other options, and the challenges fiduciaries face in increasing retirement savings.

The new study is only in its initial phase.

The first study on managed accounts was undertaken after a request by retiring Rep. George Miller, D-Calif., who is the ranking member of the Committee on Education and the Workforce.

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