Yes.  A designated investment alternative under ERISA 404(a)(5) is any investment under the plan into which a participant may direct his or her investment.  It does not include a brokerage window, self-directed brokerage account or similar arrangement that allows participants to select investments beyond those designated by the plan.  Therefore, for a brokerage window or self-directed brokerage account, the general plan information does not have to include voting rights not the identification of the various investment options available through the brokerage account.

This article was last updated on August 22, 2012