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How Washington is addressing defined contribution shortcomings
February 2011
With the passage of the Pension Protection Act of 2006 (PPA), the economic downturn in 2008 and increased governmental and legal scrutiny, the defined contribution (DC) retirement plan landscape has undergone a sea of change in terms of its structure, form and focus. The year 2010 saw significant regulatory activity. The Department of Labor (DOL) and the Securities and Exchange Commission (SEC) have attempted to shape the DC industry through regulation that clearly defines the duties of plan sponsors and the vendors that serve them. Although it often seems that Washington and the general public are at odds, and while the additional regulation can be burdensome, the actions seem to be aimed at shoring up the current system as opposed to tearing it down.
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Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.
Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company.
Date of first use: February 2011
USI-8864
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