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Registration Requirements for Pooled Plan Providers

retirement-erisa · Employee Benefits Security Administration · Published 2020-11-16 · Effective 2020-11-16 · 85 FR 72934

Document

Document number
2020-25170
Federal Register citation
85 FR 72934
CFR reference
29 CFR 2510
Type
Rule
Action
Final rule.
Category
retirement-erisa
Sub-agency
Employee Benefits Security Administration
Publication date
2020-11-16
Effective date
2020-11-16

Abstract

This final regulation establishes the requirements for registering with the Department of Labor as a "pooled plan provider" for "pooled employer plans" under the Employee Retirement Income Security Act of 1974, as amended (ERISA). The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) provides that newly permitted pooled plan providers can begin offering pooled employer plans on January 1, 2021, but requires such persons to register with the Secretary of Labor before beginning operations. This final regulation also establishes a new form--EBSA Form PR (Pooled Plan Provider Registration)--as the required filing format for pooled plan provider registrations. The Form PR must be filed electronically with the Department of Labor. Filing the Form PR with the Department of Labor also satisfies the SECURE Act requirement to register with the Department of the Treasury. This final regulation affects persons wishing to serve as pooled plan providers, defined contribution pension benefit plans that are operated as pooled employer plans, employers participating in such plans, and participants and beneficiaries covered by such plans.

Source

Authoritative
Federal Register document
Machine
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