The SEC has reopened the comment period on a rule, proposed on June 16, 2010, that would require increased disclosure to investors in advertisements for target-date retirement funds. The purpose of reopening the comment period is to seek public comment on the SEC’s Investor Advisory Committee’s 2013 recommendations. As we previously reported, the Committee’s 2013 recommendations would require that funds develop a glide path illustration based on a standardized measure of fund risk as either a replacement for, or supplement to, existing glide path illustrations based on asset allocation, employ standard methodology for all illustrations, disclose risk assumptions in fund prospectuses, warn investors in marketing materials that funds are not guaranteed and that losses are possible, and enhance fee disclosure of costs over time. The comment deadline is June 9, 2014. For further details, please see the Proposed Rule, the Committee’s proposed recommendation and the release reopening the comment period.