Revised Draft Comment Letter on DOL Proposed Regulation on Qualified Default Investment Alternatives

©2006 Investment Company Institute. All rights reserved. Information may be abridged and therefore incomplete. Communications from the Institute do not constitute, and should not be considered a substitute for, legal advice. URGENT/ACTION REQUESTED [20554] November 7, 2006 TO: PENSION COMMITTEE No. 37-06 PENSION OPERATIONS ADVISORY COMMITTEE No. 35-06 RE: REVISED DRAFT COMMENT LETTER ON DOL PROPOSED REGULATION ON QUALIFIED DEFAULT INVESTMENT ALTERNATIVES Attached for your review is a revised draft comment letter on the Department of Labor’s proposed regulation regarding default investments in participant-directed individual account plans.1 We have revised the letter to reflect various comments and suggestions provided to us by members. Please review the letter carefully and let us know if you have any further comments by noon on Thursday, November 9, 2006. Comments are due to the Department of Labor by November 13, 2006. Please contact me at 202/326-5821 or ebarone@ici.org or Mary Podesta at 202/326-5826 or podesta@ici.org with your comments or questions. Elena Barone Assistant Counsel Attachment (in .pdf format) 1 See Memorandum to Pension Committee No. 36-06 and Pension Operations Advisory Committee No. 34-06 [20524], dated October 31, 2006.