Title: Selection of Annuity Provider for Individual Account Plans
Abstract: This rulemaking would establish a safe harbor under which a fiduciary of an individual account plan will be deemed to have satisfied his or her fiduciary responsibilities with respect to the selection of an annuity provider for the purpose of benefit distributions. The Department is proposing this safe harbor in light of revisions to Interpretive Bulletin 95-1 required by section 625 of the Pension Protection Act of 2006 clarifying that the fiduciary standards in Interpretive Bulletin 95-1 do not apply to the selection of an annuity provider for benefit distributions from an individual account plan.
Agency: Department of Labor(DOL)
Priority: Other Significant
RIN Status:
Previously published in the Unified Agenda