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Sixth Circuit's Fiduciary Duty Decision Is Good News for ERISA Section 3(38) Investment Managers (PDF)
FRA PlanTools 
Oct. 28, 2012
"One of the many responsibilities of an ERISA Section 3(38) Investment Manager is the selection, monitoring and replacement of investment alternatives including a Qualified Default Investment Alternative (QDIA).... The benefit of establishing and adhering to a formal QDIA process is a reduction in fiduciary liability the benefits of which can be illustrated in a recent decision by the Sixth Circuit Court. According to the Court, a plan fiduciary does not breach their fiduciary duty when a participant's account balance is transferred to a QDIA without explicit consent."
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