- The purpose of the open meeting of the full Council, which will run from 8:30 a.m. to approximately 9 a.m., is for members to be updated on activities of the Employee Benefits Security Administration and for chairs of this year's Working Groups to provide progress reports on their individual study topics.
Open Working Group meetings - September 9-11 will run from 9 a.m. to approximately 5 p.m., each day, with a one hour break for lunch, is for Working Group members to hear testimony from invited witnesses and for discussions of possible recommendations based on the testimony.
The focus of the Working Group meeting on September 9 will be on
- phased retirement issues facing employers who wish to create phased retirement plans
- issues facing employees who wish to take part in phased retirement programs, and
- whether there are any legal impediments that discourage American workers from continuing to work in their retirement years.
The focus of the Working Group meeting on September 10 will be on:
- spending down retirement assets,
- ithe issues and barriers facing plan fiduciaries, plan sponsors, and plan participants as they attempt to evaluate approaches that guarantee periodic income levels at retirement.
The focus of the Working Group meeting on September 11 will be on:
- hard to value assets and target date funds
- potential risks,
- the roles of fiduciaries, trustees, investment managers, accountants/auditors and participants when employee benefit plans invest in hard to value assets,
- a review of regulatory policy involving assets for which there is not a generally recognized market, and
- challenges and risks associated with plans' use of target date fund
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