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Archived News Release--Caution: information may be out of date.

LABOR DEPARTMENT ANNOUNCES EXPOSURE DRAFT ON PENSION INVESTMENT EDUCATION FOR INDIVIDUALS

Fri., Dec. 8, 1995

For more information call: (202) 219-8921.

The U. S. Department of Labor today released draft guidance on investment education for workers covered by retirement savings plans, including 401(k)s.

The department released the draft, "Interpretive Bulletin Relating to Participant Investment Education," to encourage employers and others to give pension plan participants valuable investment education.

The objective in releasing a draft of the bulletin is to assure it will be helpful. The draft bulletin addresses the circumstances under which investment-related information will not constitute "investment advice" under the Employee Retirement Income Security Act (ERISA).

The draft bulletin was developed following extensive review of educational materials currently being provided by employers to plan participants. It identifies a range of information and materials that can be given to participants without constituting "investment advice" under ERISA.

The department expects to complete its work on the draft interpretive bulletin within the next 30 days.

Copies of the exposure draft are available from the PWBA Disclosure Room, Room N-5638, 200 Constitution Ave., N.W., Washington, D. C. 20210, telephone (202) 219-8771. The draft is also available on the Internet at http://www.dol.gov/dol/pwba, see "What's New in PWBA."

Archived News Release--Caution: information may be out of date.