Wednesday, May 27, 2009

SEC and DOL Seek Input on Target Date Funds

As we reported to you earlier in May, on June 18, the SEC and DOL will be holding joint hearings "to explore issues relating to target date or lifecycle funds and other similar investment options." Both agencies are seeking participants from the fund industry to participate in the hearings on:
  1. issues related to how target date fund managers determine asset allocations and changes to asset allocations (including glide paths) over the course of a fund’s operation;

  2. how they select and monitor underlying investments;

  3. how the foregoing and related risks are disclosed to investors; and

  4. the approaches or factors for comparing and evaluating target date funds.
In a press release issued last week, the SEC requested, "persons interested in presenting testimony and answering questions at this public hearing to submit a written request to participate along with an outline of topics to be discussed." Presumably, as with other SEC roundtables, the Commission is also seeking comment letters as well as parties to present testimony at the hearings on June 18.

Applications to participate in the June 18 hearings may submit their requests via these methods:

Electronic submissions:
  • Use the Commission’s Internet submission form at

  • Send an e-mail to
Paper submissions:
  • Send paper submissions in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street NE, Washington, D.C. 20549-1090.
It should be noted that, as with all comment letters sent to the SEC, the content of the applications will be publicly available on the SEC's website. No deadline for submissions was indicated in the SEC's press release.

The full text of the Commission's May 22, 2009 press release is available at:

Related articles: