investments you select through this investment arrangement, you may experience diminished returns, higher fees, and higher risk than if you select from the plan’s designated investment alternatives. 4. The following is a hypothetical illustration of the impact of return at 4 percent, 6 percent, and 8 percent on your account balance projected to age 67. (C) Illustration The notice described under paragraph (B) shall also include a graph displaying the projected retirement balances of such participant or beneficiary at age 67 if the account of such individual were to achieve an annual return equal to each of the following: (i) 4 percent. (ii) 6 percent. (iii) 8 percent. . (b) Designated investment alternative defined Section 3 of such Act ( 29 U.S.C. 1002 ) is amended by adding at the end the following new paragraph: (46) Designated investment alternative (A) In general The term designated investment alternative means any investment alternative designated by a responsible fiduciary of an individual account plan described in subsection 404(c) into which participants and beneficiaries may direct the investment of assets held in, or contributed to, their individual accounts. (B) Exception The term designated investment alternative does not include brokerage windows, self-directed brokerage accounts, or similar plan arrangements that enable participants and beneficiaries to select investments beyond those designated by a responsible plan fiduciary. . (c) Effective date The amendment made by subsection (a) shall take effect on January 1, 2025.