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April 28, 2010
TO: INVESTMENT COMPANY DIRECTORS No. 11-10PENSION COMMITTEE No. 13-10
PENSION OPERATIONS ADVISORY COMMITTEE No. 11-10 RE: IDC PAPER ON BOARD OVERSIGHT OF TARGET RETIREMENT DATE FUNDS
The Independent Directors Council has posted on its website the paper, Board Oversight of Target Retirement Date Funds. IDC prepared the paper to assist target retirement date fund directors in performing their oversight responsibilities. It includes practical guidance in the form of potential questions to ask advisers in areas that may be of particular interest in the target retirement date fund context. While the document is designed to assist fund directors, it should help to further educate others about the important role of directors in overseeing these funds. The paper builds upon materials ICI has developed regarding target retirement date funds, including Frequently Asked Questions About Target Date Funds.
Annette Capretta
Deputy Managing Director