S. 3083 — Providing Complete Information to Retirement Investors Act

This section establishes notice and acknowledgment requirements under ERISA section 404(c)—the fiduciary safe harbor for participant-directed investments in individual account pension plans (i.e., defined contribution plans)—applicable before a participant directs assets into, out of, or within a brokerage window or similar non-designated investment arrangement. The required notice must disclose that (1) designated investment alternatives are prudently selected and monitored by plan fiduciaries considering risk and return relative to available options; (2) brokerage window investments are not so selected or monitored; (3) such investments may involve higher fees, risks, and diminished returns compared to designated alternatives; and (4) a graph illustrating projected account balances at age 67 assuming 4%, 6%, or 8% annual returns. (Thus, compliance is necessary to avoid fiduciary liability for losses in self-directed brokerage investments.) It further defines "designated investment alternative" to exclude brokerage windows, self-directed brokerage accounts, or similar arrangements enabling choices beyond fiduciary-designated options. The requirements apply to directions made on or after January 1, 2026.