Empower, the third largest record keeper by DC assets, is sending notices to its plan sponsors that it does not intend to be plan fiduciary on its $400bn of AUA (assets under administration). While this is less than ideal for its clients, at least they know where they stand! Many record keepers have no indicated whether or not they intend to be named fiduciaries----adding an extra layer of complexity and confusion around what already exists around DOL.