Providing Complete Information to Retirement Investors Act

HR 5340 requires retirement plans to provide clear, standardized disclosures before participants choose investments outside the plan's designated options (like self-directed brokerage accounts). It mandates a four-part notice explaining that non-designated investments aren't monitored by fiduciaries, may carry higher fees/risks, and includes a graph showing hypothetical retirement balances at 4%, 6%, and 8% annual returns. This directly affects plan participants who select investments beyond the plan's curated options. The rule takes effect January 1, 2025, aiming to improve transparency about investment risks in retirement accounts.