Public Hearing on Computer Model Investment Advice for IRAs

This document is about a public hearing held by the Department of Labor's Employee Benefit Security Administration to discuss the feasibility of using computer models to provide investment advice to IRA account holders. The hearing includes testimony from various industry representatives on the challenges and limitations of using computer models to recommend a "full range of investments" for IRAs, as required by the Pension Protection Act. Key topics include the interpretation of "full range of investments", the ability of computer models to adequately consider non-pooled investment vehicles, and the potential need for a disclosure-based class exemption rather than a computer model-based approach.