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Archived News Release — Caution: Information may be out of date. Archived News Release — Caution: Information may be out of date.
For more information call: (202) 219-8921
The U.S. Department of Labor's Pension and Welfare
Benefits Administration today published a final notice eliminating a number of
obsolete regulations issued under the Employee Retirement Income Security Act
(ERISA).
"This final action is being taken to implement the
president's executive order directing federal agencies to eliminate unnecessary
regulations," said Olena Berg, assistant secretary of the Pension and Welfare
Benefits Administration.
The obsolete regulations removed from the Code of Federal
Regulations include a number of provisions which provided transitional relief
and guidance for plan sponsors, fiduciaries and others shortly after ERISA was
enacted in 1974. Also included in the notice is the removal of paragraph (b) of
Interpretive Bulletin No. 75-2, which no longer has any force or effect
following the Supreme Court's 1993 decision in John Hancock Mutual Life
Insurance Co. v. Harris Trust & Savings Bank.
The notice is scheduled to be published in the July 1,
1996, Federal Register. The action being announced today was proposed in the
Federal Register on April 3, 1996. The notice will also be available on the
Internet at http://www.dol.gov/dol/pwba, see "What's New in PWBA."
Archived News Release — Caution: Information may be out of date.
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