​ ICI Opposes Move to Include Stable Value Funds Among 401k Defaults. The Investment Company Institute has written a letter to the Office of Management and Budget (​OMB) opposing the American Council of Life Insurer'​s (​ACLI) request to return stable value funds to a list of automatically selected default options for 401k plan participants. Companies may now designate balanced, lifecycle, and asset allocation funds for automatic enrollment in 401k plans, but money funds and stable value funds are currently excluded from the "​default" options list. The ICI letter says that "​approximately $​83 billion of 401(​k) assets is invested in money market mutual funds" and "​money market funds are equally inappropriate as default investments for retirement savings." For more, see WSJ'​s "​Funds Argue Against 401(​k) Insurance Options" and Investment News' "​Trade groups facing off over stable-​value funds".

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