Eligible Investment Advice Arrangement

[PLAN MAN]

I know we are all waiting for the DOL's words of wisdom on the Qualified Default Investment Alternative, but does anyone have an idea when we may see guidance on the Investment Advice provisions under PPA? Is anybody operating with a level-fee arrangement qualified under PPA? Thanks.

[John Feldt ERPA CPC QPA]

I have heard that it has become a political issue.

Certain companies are upset that their GICs or their money market, or [you name the fund type here], was not on the DOL's initial guidance and those companies/industries are placing a lot of pressure on the DOL to add their investment vehicles to the final guidance. The DOL probably does not want to add some of those because they do not feel that they are appropriate for long-term retirement investing. A standstill appears to be the result so far.

[John Feldt ERPA CPC QPA]

http://cms.nationalunderwriter.com/cms/nul...7/05/15-acli-ap