Providing Complete Information to Retirement Investors Act

New rules for retirement brokerage windows

This bill would require pension plans with brokerage windows or self-directed accounts to give a written four-part notice and get your acknowledgement each time you move money into, out of, or within those accounts. The notice would say the plan’s designated investments are prudently chosen and monitored, that non-designated investments are not, and that choosing non-designated investments may mean lower returns, higher fees, and higher risk. The notice must include a graph and hypothetical balances at age 67 using 4%, 6%, and 8% returns. If enacted, you would not be treated as exercising control over those plan assets unless you got the notice and acknowledged each part. These rules would take effect January 1, 2026. The bill would also define “designated investment alternative” to exclude brokerage windows and self-directed brokerage accounts, so those options would not count as plan-designated investments monitored by fiduciaries.