2021 Advisory Council on Employee Welfare and Pension Benefit Plans: Understanding Brokerage Windows in Self-Directed Retirement Plans

This document outlines the focus of the 2021 Advisory Council on Employee Welfare and Pension Benefit Plans regarding brokerage windows in participant-directed individual account retirement plans. The Council will examine the number and types of plans offering brokerage windows, the extent of assets invested through brokerage windows, participant disclosures, and which participants use brokerage windows. The goal is to assist the Department of Labor in determining if guidance is needed to ensure participants with brokerage window access are adequately informed and protected under ERISA.