Friday, December 28, 2007

Treasury Regulation - REG-139236-07 - Measurement of Assets and Liabilities for Pension Funding Purposes

26 CFR Part 1

[REG-139236-07]

RIN 1545-BH07

Treasury Regulation - REG-139236-07 - Measurement of Assets and Liabilities for Pension Funding Purposes

Proposed regulations under section 430 of the Code provide guidance on the valuation of plan assets and the determination of benefit liabilities for purposes of the funding requirements that apply to single employer defined benefit plans pursuant to changes made by the Pension Protection Act of 2006. This guidance covers the determination of the plan’s funding target and normal cost, rules regarding the plan’s valuation date, the determination of the actuarial value of plan assets, rules regarding interest rates applied for minimum funding purposes, and special rules for at-risk plans.

The Treasury and the IRS issued additional proposed regulations on Pension Protection Act funding rules:

IR-2007-212, Dec. 28, 2007

WASHINGTON — The Treasury Department and the Internal Revenue Service today issued proposed regulations that provide employers sponsoring single-employer defined benefit plans with guidance regarding the measurement of pension assets and liabilities under the new funding rules enacted as part of the Pension Protection Act of 2006.

These proposed regulations, together with proposed regulations related to mortality issued in May, proposed regulations relating to funding balances and funding-based benefit limitations issued in August, the yield curve guidance issued in October, and guidance on lump sum determinations issued in November will assist plan sponsors in determining the contribution requirements that apply to their defined benefit plans for the first year that the new funding rules apply.

Although the new funding rules are generally effective for plan years beginning on or after Jan. 1, 2008, these regulations are proposed to be effective for plan years beginning on or after Jan. 1, 2009. However, plan sponsors can rely on these proposed regulations for purposes of satisfying the requirements of section 430 for plan years beginning in 2008.

The Treasury Department and the Internal Revenue Service intend to issue guidance in the near future indicating that the proposed effective date for these regulations should also apply for the proposed regulations relating to employer-specific mortality tables issued in May and the proposed regulations related to funding balances and funding based-benefit limitations under sections 430(f) and 436 issued in August. Although final regulations will not apply to plan years beginning before January 1, 2009, plan sponsors may also rely on those proposed regulations for purposes of satisfying the statutory requirements for plan years beginning in 2008.

On Dec. 19, 2007, the Senate passed an amended version of the Pension Protection Technical Corrections Act of 2007. These proposed regulations, like the earlier proposed regulations, do not reflect any proposed technical corrections. Nor do they include any reflection of the proposed modification to the rules for determining asset values. After technical corrections are enacted, the regulations will be modified to take into account the enacted provisions.

Related Links:

Treasury Regulation - REG–104946–07 - Hybrid Retirement Plans

26 CFR Part 1

[REG–104946–07]

RIN 1545–BG36

Treasury Regulation - [REG–104946–07] - Hybrid Retirement Plans

Proposed regulations provide guidance under sections 411(a)(13) and 411(b)(5) of the Code, which were added by the Pension Protection Act of 2006. Section 411(a)(13) provides rules relating to vesting and payment of benefits that must be satisfied in order for hybrid defined benefit plans to be tax-qualified. Section 411(b)(5) provides age discrimination rules for tax-qualified defined benefit plans, including hybrid defined benefit plans.

The Treasury and the IRS issued proposed regulations for cash balance and other hybrid pension plans:

IR-2007-211, Dec. 28, 2007

WASHINGTON — The Treasury Department and Internal Revenue Service (IRS) issued proposed regulations relating to cash balance plans and other hybrid pension plans. The proposed regulations would interpret rules that were added to the tax law by the Pension Protection Act of 2006 (PPA), including an age discrimination safe harbor for hybrid pension plans, conversion protection for employees, and a 3-year minimum vesting requirement. The proposed regulations would also apply for purposes of the parallel rules that were added by PPA to the Employee Retirement Income Security Act of 1974 (ERISA).The regulations are generally proposed to be effective for plan years beginning on and after Jan. 1, 2009. For periods before the effective date of these regulations, a plan must comply with the new PPA statutory provisions. During these periods, a plan is permitted to rely on the regulations for purposes of satisfying the new PPA statutory provisions.

Related Links:

Thursday, December 27, 2007

IRS Revenue Ruling 2008-5 - Losses from wash sales of stock or securities

Part I

Section 1091.—Loss from Wash Sales of Stock or Securities

26 CFR 1.1091-1: Losses from wash sales of stock or securities.

IRS Revenue Ruling 2008-5 - Losses from wash sales of stock or securities

If an individual sells stock or securities for a loss and causes his or her individual
retirement account or Roth IRA to purchase substantially identical stock or securities
within 30 days before or after the sale, is the loss on the sale of the stock or securities
disallowed?

Related Links:

Wednesday, December 26, 2007

IRS Notice 2007-101 - Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates

Part III --- Administrative, Miscellaneous, and Procedural

IRS Notice 2007-101 - Update for Weighted Average Interest Rates, Yield Curves, and Segment Rates

Weighted average interest rate update; corporate bond indices; 30-year Treasury securities; segment rates. This notice contains updates for the corporate bond weighted average interest rate for plan years beginning in December 2007; the 24-month average segment rates; the funding transitional segment rates applicable for December 2007; and the minimum present value transitional rates for November 2007.

Related Links:

IRS Notice 2007-100 - Transition Relief and Guidance on Corrections of Certain Failures of a Nonqualified

Part III – Administrative, Procedural, and Miscellaneous

IRS Notice 2007-100 - Deferred Compensation Plan to Comply with § 409A(a) in Operation
This notice provides transition relief and guidance on the correction of certain failures of a nonqualified deferred compensation plan to comply with section 409A(a) of the Code in operation (an operational failure), including: (1) methods for correcting certain operational failures during a service provider’s taxable year in which the failure occurs to avoid income inclusion under section 409A(a); (2) transition relief limiting the amount includible in income under section 409A(a) for certain operational failures occurring in a service provider’s taxable year beginning before January 1, 2010, that involve only limited amounts; (3) an outline of, and request for comments on, a potential corrections program that would permit service recipients and service providers to limit the amounts required to be included in income under section 409A(a) due to certain operational failures.



Related Links:

IRS Notice 2007-99 - Modification of Q&A-23 of Notice 2007-7

Part III – Administrative, Procedural, and Miscellaneous

IRS Notice 2007-99 - Modification of Q&A-23 of Notice 2007-7

Distributions from governmental plans and health and accident insurance; section 845 of PPA '06. As a result of section 845 of the Pension Protection Act of 2006 and section 9(i)(1)(B) and (C) of S. 1974 and H.R. 3361, the pending Pension Protection Technical Corrections Acts of 2007, Q&A-23 of Notice 2007-7, 2007-5 I.R.B. 395, pertaining to distributions from certain health and accident plans is altered. Notice 2007-7 modified.

Related Links:

Friday, December 21, 2007

Treasury Regulation - TD 9370 - User Fees Relating to Enrollment To Perform Actuarial Services

26 CFR Part 300

[TD 9370]

RIN 1545–BG88

Treasury Regulation - TD 9370 - User Fees Relating to Enrollment To Perform Actuarial Services

This final regulation contains relates to user fees for the initial and renewed enrollment to become an enrolled actuary.
Related Links:

Wednesday, December 19, 2007

IRS Notice 2008-7 - Extension of Transitional Relief for Diversification Requirements for Certain Defined Contribution Plans

Part III - Administrative, Procedural and Miscellaneous

Extension of Transitional Relief for Diversification Requirements for Certain Defined Contribution Plans

IRS Notice 2008-7 - Extension of Transitional Relief for Diversification Requirements for Certain Defined Contribution Plans

The IRS announced the following:

"Notice 2008-07 provides relief for certain defined contribution plans holding publicly traded employer securities under Notice 2006-107, 2006-51 I.R.B. 1114. The transitional relief provided for the period prior to January 1, 2008, in paragraph 4 of Part III.D of Notice 2006-107 will continue to apply after 2007 until new regulations go into effect.

Notice 2008-7 will be published in Internal Revenue Bulletin 2008-3, dated January 22, 2008."

Extension of Transitional Relief

  • "It is expected that these regulations, when finalized, will not be effective before plan years beginning on or after January 1, 2009."
  • "Except as otherwise provided in the proposed or final regulations, plans must continue to apply Notice 2006-107 until the regulations go into effect."
  • "For this purpose, the transitional relief provided for the period prior to January 1, 2008, in paragraph 4 of Part III.D of Notice 2006-107 will continue to apply after 2007 until the regulations go into effect."

Related Links:

IRS Notice 2007-94 - 2007 Cumulative List of Changes in Plan Qualification Requirements

Part III – Administrative, Procedural and Miscellaneous

IRS Notice 2007-94 - 2007 Cumulative List of Changes in Plan Qualification Requirements

Retirement plans; qualification, list of changes. This notice sets forth a list of changes referred to in Rev. Proc. 2007-44, 2007-28 I.R.B. 54, pertaining to the statutory, regulatory, and guidance changes needed for certain requests to the Service for opinion, advisory, and determination letters for the 12-month period beginning February 1, 2008.

Related Links:

IRS Revenue Procedure 2007-71 – Rulings and determination letters

Part III --Administrative, Procedural, and Miscellaneous

26 CFR 601.201: Rulings and determination letters.

(Also, Part I, § 403; § 1.403(b)-3.)

IRS Revenue Procedure 2007-71 – Rulings and determination letters

Tax-sheltered annuities; written program; public schools; model amendments. This procedure sets forth model amendments that may be adopted in order to satisfy certain requirements for a definite written program for certain tax-sheltered annuities under section 403(b) of the Code. This revenue procedure also provides additional relief for certain section 403(b) tax-sheltered annuity contracts.

Related Links:

DOL Proposed Regulation – Civil Penalties Under ERISA Section 502(c)(4)

29 CFR Part 2560

RIN 1210-AB24

DOL Proposed Regulation – Civil Penalties Under ERISA Section 502(c)(4)

The DOL announced a proposed regulation for "assessing civil penalties against plan administrators who fail to disclose certain documents to participants, beneficiaries and others as required by the Employee Retirement Income Security Act, as amended by the Pension Protection Act (PPA)":

"The PPA established new disclosure provisions relating to: funding-based limits on benefit accruals and certain forms of benefit distributions; plan actuarial and financial reports; withdrawal liability of contributing employers; and participants' rights and obligations under automatic contribution arrangements. The PPA gives the department authority to assess civil monetary penalties of up to $1,000 per day against plan administrators for violations of the new disclosure requirements. The proposed regulation sets forth the administrative procedures for assessing and contesting such penalties and does not address substantive provisions of the new
disclosure requirements."

Related Links:

Thursday, December 13, 2007

DOL Proposed Regulation - Reasonable Contract or Arrangement Under Section 408(b)(2)--Fee Disclosure

29 CFR Part 2550

RIN 1210-AB08

DOL Proposed Regulation - Reasonable Contract or Arrangement Under Section 408(b)(2)--Fee Disclosure

According to a news release, the U.S. Labor Department is proposing regulations to increase the disclosure of fees and conflict of interests affecting 401(k) and other employee benefit plans:

"Washington – The U.S. Department of Labor today announced a proposed rule that will enhance disclosure to fiduciaries of 401(k) and other employee benefit plans to assist them in determining the reasonableness of compensation paid to plan service providers and conflicts of interest that may affect a service provider's performance under a service contract or arrangement.

"One of the department's top priorities is improved disclosure in order to ensure that participants and fiduciaries have the information they need to make informed decisions," said U.S. Secretary of Labor Elaine L. Chao. "We are working quickly to implement regulations that foster fair, competitive and transparent prices for services as well as combat excessive or hidden plan fees."

The proposed regulation would enhance disclosure to plan fiduciaries by requiring that contracts between certain service providers and plans provide for specific and detailed information. The proposal requires that all services furnished to a plan and all compensation, direct and indirect, to be received by the service provider be disclosed in writing. The proposal also requires the disclosure of possible conflicts of interest of the service provider that may affect the performance of plan services.

In addition, the department is proposing a class exemption to provide relief to plan fiduciaries who enter into deficient contracts with service providers that, unbeknownst to the plan fiduciary, failed to comply with their disclosure obligations.

401(k) savings and other employee benefit plans are critical to the retirement and health security of American workers and their families," said Bradford P. Campbell, assistant secretary for the Labor Department's Employee Benefits Security Administration. "This initiative enhances disclosure of fees and conflicts of interest that can affect workers' interests and is an important part of our continued efforts to enhance workers' benefit security.""

The fact sheet describes the following disclosure requirements:

"Disclosure of Services and Compensation - The terms of the contract must require that the service provider disclose information regarding all services to be performed and all compensation that will be received either directly from the plan or indirectly from parties other than the plan or plan sponsor. The proposal includes a definition of "compensation or fees" and rules for bundled service providers and for estimating the amount of prospective compensation.

Disclosure of Conflicts of Interest - Service providers also must disclose information about relationships or interests that may raise conflicts of interest for the service provider in performing plan services. Specifically, service providers must describe:

  • any participation or interest of the service provider in transactions to be entered into by the plan pursuant to the contract;
  • any material relationships with other parties that may create conflicts of interest;
  • any compensation the service provider may receive that it can affect without prior approval by an independent fiduciary; and
  • any policies or procedures in place to address potential conflicts of interest.
Ongoing Disclosure Obligations - The proposal includes ongoing disclosure obligations relating to:
  • Material Changes: During the term of the contract, a service provider must disclose material changes to information previously furnished within 30 days of such changes.
  • Reporting and Disclosure Requirements: Service providers must disclose compensation or other information related to the contract or arrangement that is requested by the responsible plan fiduciary or plan administrator in order to comply with ERISA's reporting and disclosure requirements.
  • Actual Performance: The proposal also includes an explicit requirement that service providers actually make the required disclosures."

Related Links:

Monday, December 10, 2007

IRS Revenue Ruling 2007-71 - Permitted disparity in employer-provided contributions or benefits

Part I

Section 401. -- Qualified Pension, Profit-Sharing, and Stock Bonus Plans

26 CFR 1.401(l)-1: Permitted disparity in employer-provided contributions or benefits

IRS Revenue Ruling 2007-71 - Permitted disparity in employer-provided contributions or benefits

2008 covered compensation tables; permitted disparity. The covered compensation tables under section 401 of the Code for the year 2008 are provided for use in determining contributions to defined benefit plans and permitted disparity.

Related Links:

Friday, November 16, 2007

DOL Final Regulation - Annual Reporting and Disclosure

29 CFR Part 2520

RIN 1210–AB06

DOL Final Regulation - Annual Reporting and Disclosure

Last month the Department of Labor announced changes for the 2009 IRS Form 5500 by releasing Final Rule – Annual Reporting and Disclosure and Notice – Revision of Annual Information Return/Reports:

The U.S. Department of Labor's Employee Benefits Security Administration (EBSA), the Internal Revenue Service and the Pension Benefit Guaranty Corp. (PBGC) today announced the publication of revisions to the Form 5500 annual return/report for plan year 2009, including a deferral for one year of the move to the wholly electronic filing system.

Plan and service providers now will have additional time to comply with changes to the 2009 Form 5500 and the change to the wholly electronic filing system. Plans and service providers will not be required to comply with these changes until the due date for the plan's 2009 Form 5500.

The revised Form 5500 annual report will be the primary source of information about the operations, funding and investments of about 800,000 pension and welfare benefit plans. The department estimates that the form revisions and move to electronic filing together will save plans up to about $100 million per year.

"Today's action completes the first component of our fee transparency initiative for employee benefit plans," said Bradford P. Campbell, assistant secretary of labor for EBSA. "The expanded reporting of compensation received by service providers will make it easier for plan officials to understand and monitor investment fees charged to plan accounts and revenue sharing arrangements that compensate brokers, pension consultants and other investment service providers."

Related Links:

Thursday, November 8, 2007

Treasury Regulation - REG–133300–07 - Notice of Proposed Rulemaking Automatic Contribution Arrangements

26 CFR Part 1
[REG–133300–07]
RIN–1545-BG80


Treasury Regulation - REG–133300–07 - Notice of Proposed Rulemaking Automatic Contribution Arrangements

Proposed regulations under section 401 of the Code provide guidance relating to certain automatic contribution arrangements; section 402(c) relating to eligible rollover distributions; section 411(a) relating to forfeitures; and section 4979(f) relating to excise tax on certain excess contributions and excess aggregate contributions.

Related Links:

Monday, July 9, 2007

IRS Revenue Procedure 2007-44 – Rulings and determination letters

Part III --Administrative, Procedural, and Miscellaneous

26 CFR 601.201: Rulings and determination letters.

(Also, Part I, §§ 401; 1.401(b)-1.)

IRS Revenue Procedure 2007-44 – Rulings and determination letters

Qualification; determination letters; staggered remedial amendment periods. Rev. Proc. 2005-66, containing the Service's procedures for issuing determination letters pursuant to section 401(a) of the Code with respect to a staggered remedial amendment period system both for plans that are and are not pre-approved, is clarified, modified, and superseded. Rev. Proc. 2005-16 modified.

Purpose:

  • Rev. Proc. 2005-66, 2005-2 C.B. 509, established a system of cyclical remedial amendment periods under § 401(b) of the Internal Revenue Code (Code) for individually designed and pre-approved qualified plans. This revenue procedure updates and supersedes Rev. Proc. 2005-66. Section 3 describes the changes to Rev. Proc. 2005-66 in this revenue procedure.
  • Under this system, every individually designed plan qualified under § 401(a) has a regular, five-year remedial amendment cycle. The cycles are staggered and spread over five-year periods. That is, the cycles commence in different years for different plans within a five-year period, so that different plans have different cycles. The effect of this system is that plan sponsors need to apply for new determination letters generally only once every five years in order to continue to have a letter on which to rely.
  • In addition, under this system, every pre-approved plan (that is, every master and prototype (M&P) and volume submitter (VS) plan), generally has a regular, six-year remedial amendment cycle. As a result, sponsors, practitioners (including mass submitters and national sponsors), as defined in Rev. Proc. 2005-16, 2005-1 C.B. 674, and generally referred to collectively in this revenue procedure as "sponsors or practitioners" unless otherwise noted, as well as adopters of pre-approved plans, generally need to apply for new opinion, advisory, or determination letters only once every six years. Preapproved defined contribution plans have different six-year remedial amendment cycles than pre-approved defined benefit plans. Thus, the same six-year remedial amendment cycle applies with respect to all pre-approved defined contribution plans, and a separate six-year remedial amendment cycle applies with respect to all pre-approved defined benefit plans. Also, this revenue procedure provides rules for adopting employers to adopt a preapproved plan after the review process is completed.
  • The system for staggered five-year remedial amendment cycles and the system for six-year amendment/approval cycles are established pursuant to the Commissioner's authority under § 401(b) of the Code and its underlying regulations to extend the remedial amendment period, and pursuant to the Commissioner's authority under § 7805(b) to establish the effective date of any rule or regulation. As a result, sponsors, practitioners, and plan sponsors submit their plan only once for an opinion, advisory, or determination letter that rules on all amendments adopted and made effective within the applicable remedial amendment cycle.
  • These remedial amendment cycles are coordinated with the Economic Growth and Tax Relief Reconciliation Act of 2001, Pub. L. 107-16 (EGTRRA) remedial amendment period, as defined further in section 2.07 of this revenue procedure, for both individually designed and pre-approved plans.
  • The EGTRRA remedial amendment period for individually designed plans extends to the end of the initial applicable five-year remedial amendment cycle as provided in the chart found in section 12.01. Therefore, plan sponsors may avoid unnecessarily filing two determination letter applications by waiting to file their EGTRRA determination letter applications until the twelve-month period preceding the end of the plan's initial applicable five-year remedial amendment cycle.
  • The EGTRRA remedial amendment period for pre-approved plans extends to the end of the initial applicable six-year remedial amendment cycle as provided in section 18.01.

Related Links:

Monday, January 1, 2007

DOL Proposed Regulations/DOL News – 2007 Index

DOL Proposed Regulations

The purpose of DOL proposed regulations is "to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules."

DOL Proposed Regulation – Civil Penalties Under ERISA Section 502(c)(4) (Dec 19, 2007)
This proposed rule is for assessing civil penalties against plan administrators who fail to disclose certain documents to participants, beneficiaries and others as required by the Employee Retirement Income Security Act, as amended by the Pension Protection Act (PPA).
LINKS:
[HTML] [PDF] [News Release]

DOL Proposed Regulation - Reasonable Contract or Arrangement Under Section 408(b)(2)--Fee Disclosure (Dec 13, 2007)
This proposed rule will enhance disclosure to fiduciaries of 401(k) and other employee benefit plans to assist them in determining the reasonableness of compensation paid to plan service providers and conflicts of interest that may affect a service provider's performance under a service contract or arrangement.
LINKS:
[HTML] [PDF] [News Release] [Fact Sheet] DOL Notice [HTML] DOL Notice [PDF]

DOL Proposed Regulation - Multi-Employer Pension Plan Information Made Available on Request (Sep 14, 2007)
This proposed rule provides guidance giving participants in multiemployer pension plans, their union representatives and contributing employers the right to request and receive copies of certain actuarial, financial and other funding-related documents from their plans. The new disclosure rules implement provisions of the Pension Protection Act of 2006 (PPA).
LINKS:
[HTML] [PDF] [News Release] [Comments]

DOL Proposed Regulation - Selection of Annuity Providers for Individual Account Plans (Sep 12, 2007)
This proposed rule provides guidance, in the form of a safe harbor, for the selection of annuity providers by fiduciaries for benefit distributions from individual account plans, such as 401(k) plans.
LINKS:
[HTML] [PDF] [News Release]

DOL Proposed Regulation - Amendments to Civil Penalties Under ERISA Section 502(c)(7) (Aug 10, 2007)
This proposed rule is a companion to the direct final rule the civil penalty regulation to reflect recent amendments by the Pension Protection Act of 2006.
LINKS:
[HTML] [PDF] [News Release]

DOL Proposed Regulation - Fee and Expense Disclosures to Participants in Individual Account Plans (Apr 25, 2007)
This is a "request for information" (RFI) to assist the department in improving information provided to an estimated 41 million participants about administrative and investment fees and expenses charged to 401(k)-type plans.
LINKS:
[HTML] [PDF] [News Release]
EBSA Testimony Before House Committee on Education & Labor

DOL News

The purpose of DOL News is to provide links to DOL related news that is not in the format of a DOL final regulation, DOL proposed regulation, or a DOL field assistance bulletin.

DOL Offers Online DFVCP Penalty Calculator
LINKS:
[HTML] [News Release]

DOL Releases Advance Copies of 2007 Form 5500
LINKS:
[HTML] [News Release]

DOL Launches Interactive Web Tool to Help Employers Comply with Retirement Laws
LINKS:
[HTML] [News Release]

DOL Final Regulations – 2007 Index

DOL Final Regulation - Annual Reporting and Disclosure (Nov 16, 2007)
This final rule, along with a notice of adoption of revisions, contains revisions to the Form 5500 Annual Return/Report for plan year 2009, including a deferral for one year of the move to the wholly electronic filing system.
LINKS: [HTML] [PDF] [News Release] [Fact Sheet] DOL Notice [HTML] DOL Notice [PDF]

DOL Final Regulation - Default Investment Alternatives Under Participant-Directed Individual Account Plans (Oct 24, 2007)
This regulation implements PPA provisions providing relief to plan fiduciaries who invest the assets of participants who do not provide investment direction (such as automatically enrolled workers) in "qualified default investment alternatives" or QDIAs. The QDIAs described in the rule will encourage the investment of employee assets in investment vehicles appropriate for long-term retirement savings.
LINKS:
[HTML] [PDF] [News Release] [Fact Sheet]

DOL Final Regulation - Amendment to Interpretive Bulletin 95-1 (Sep 12, 2007)
This interim final rule amends Interpretative Bulletin 95-1 to limit the application of the bulletin to the selection of annuity providers for benefit distributions from defined benefit plans. This amendment will affect plan sponsors and fiduciaries of individual account plans, and the participants and beneficiaries covered by such plans.
LINKS:
[HTML] [PDF] [News Release]

DOL Final Regulation - Amendments to Civil Penalties Under ERISA Section 502(c)(7) (Aug 10, 2007)
This is a direct final rule amending the civil penalty regulation to authorize the Secretary of Labor to assess civil penalties not to exceed $100 per day for each violation of section 101(m) of ERISA, which requires plan administrators of individual account plans to notify participants and beneficiaries of their right to sell the company stock in their accounts and reinvest the proceeds into other investments available under the plan. The notice must also inform the recipients of the importance of diversifying the investments in their accounts.
LINKS:
[HTML] [PDF] [News Release]

DOL Final Regulation - Time and Order of Issuance of Domestic Relations Orders (DROs) (Mar 7, 2007)
This is an interim final rule that provides guidance to plan administrators, service providers, participants, and alternate payees on the qualified domestic relations order (QDRO) requirements under ERISA.
LINKS:
[HTML] [PDF] [News Release]

DOL Final Regulation - Amendments to Safe Harbor for Distributions From Terminated Individual Account Plans and Termination of Abandoned Individual Account Plans To Require Inherited Individual Retirement Plans for Missing Nonspouse Beneficiaries (Feb 15, 2007)
This is an interim final rule amending regulations under ERISA that provide guidance and a fiduciary safe harbor for the distribution of benefits on behalf of participants or beneficiaries in terminated and abandoned individual account plans.
LINKS:
[HTML] [PDF] [News Release]

DOL Final Regulation - Statutory Exemption for Cross-Trading of Securities (Feb 12, 2007)
This is an interim final rule regarding the new statutory exemption on cross-trading in the Pension Protection Act (PPA).
LINKS:
[HTML] [PDF] [News Release]

DOL Final Regulation - Electronic Filing of Annual Reports (Jul 21, 2006)
This is a final rule establishing an electronic filing requirement for certain annual reports required to be filed with the Department of Labor by plan administrators and other entities.
LINKS:
[HTML] [PDF] [News Release]

Rules and Regulations

2008

2007



DOL Field Assistance Bulletins – 2007 Index

DOL Field Assistance Bulletins – 2007 Index

DOL FAB 2007-03 Periodic Pension Benefit Statements for Non-Participant Directed Individual Account Plans
This guidance supersedes the guidance provided in FAB 2006-03 as it relates to the dates for furnishing pension benefit statements to participants and beneficiaries of individual account plans that do not permit participants and beneficiaries to direct the investment of assets in their individual accounts.
LINKS:
[HTML] [PDF] [News Release]

DOL FAB 2007-02 ERISA Coverage Of IRC § 403(b) Tax-Sheltered Annuity Programs (Jul 24, 2007)
Guidance related to 403(b) tax-sheltered annuity programs and the Department of Labor's safe harbor regulation.
LINKS:
[HTML] [PDF] [News Release]

DOL FAB 2007-01 Statutory Exemption For Investment Advice (Feb 2, 2007)
Guidance relating to the investment advice provisions of the Pension Protection Act of 2006.
LINKS:
[HTML] [PDF] [News Release]

DOL FAB 2006-03 Periodic Pension Benefit Statements - PPA (Dec 20, 2006)
Interim guidance relating to individual benefit statements and notices of freedom to divest employer securities pursuant to the Pension Protection Act of 2006.
LINKS:
[HTML] [PDF] [News Release]