ICI Statement to ERISA Advisory Council on QDIAs

ICI submitted a statement to the ERISA Advisory Council on the topic "Qualified Default Investment Alternatives (QDIAs)—Start to Finish, Default to Payout," in connection with its October 22, 2024, meeting. The Council's focus is on the effectiveness of QDIAs in both the accumulation and decumulation phases of retirement—starting with the Department of Labor's issuance in 2007 of final QDIA regulations through changes made by the Setting Every Community Up for Retirement Enhancement Act (the SECURE Act) and the SECURE 2.0 Act. The Council requested that ICI submit testimony and requested several specific data points related to plans' QDIA use and target date funds in particular.

Read more in the testimony.