Providing investment education to participants creates liability
The Department of Labor issued Interpretive Bulletin 96-1 that described the types of investment education that a plan fiduciary may deliver without putting the plan fiduciary into the position of rendering investment advice (and thereby compromising 404c statutory relief for the specific affected transactions).
The scope of investment education identified by the DOL that is not considered "investment advice" is very extensive-and surprisingly NOT construed as investment advice.
Plan participants consistently cite as a major shortcoming in their 401(k) plans is the lack of investment education. Making available investment education will increase the satisfaction of employees in this important (and costly) benefit.