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Default Investment Alternatives Under Participant Directed Individual Account Plans

retirement-erisa · Employee Benefits Security Administration · Published 2008-04-30 · Effective 2008-04-30 · 73 FR 23349

Document

Document number
E8-9371
Federal Register citation
73 FR 23349
CFR reference
29 CFR 2550
Type
Rule
Action
Correcting amendments.
Category
retirement-erisa
Sub-agency
Employee Benefits Security Administration
Publication date
2008-04-30
Effective date
2008-04-30

Abstract

The Department published in the Federal Register of October 24, 2007 (72 FR 60452), a final regulation providing relief from certain fiduciary responsibilities for fiduciaries of participant- directed individual account plans who, in the absence of directions from a participant, invest the participant's account in a qualified default investment alternative. The final regulation implemented recent amendments to title I of the Employee Retirement Income Security Act of 1974 (ERISA) enacted as part of the Pension Protection Act of 2006, Public Law 109-280. The Department has determined that two paragraphs in the final regulation, and one statement in the SUPPLEMENTARY INFORMATION, require correction. Accordingly, this document corrects the final regulation by revising these paragraphs.

Source

Authoritative
Federal Register document
Machine
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