REGULATION: Senator eyes target date funds
The chairman of the Senate Special Committee on Aging said last month he plans to introduce legislation that would require target date fund managers to take on fiduciary responsibilities
The chairman of the Senate Special Committee on Aging said last month he plans to introduce legislation that would require target date fund managers to take on fiduciary responsibilities. Sen. Herb Kohl, D-Wis., said in a statement that greater oversight of these funds is needed because many of them can have high fees, low performance or excessive risk. For more details of Mr. Kohl’s statement, visit aging.senate.gov/record.cfm?id=320850.
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