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DOL/EBSA

RIN: 1210-AA73

Publication ID: Fall 1999

Title: Small Pension Plan Security Amendments
Abstract: This initiative would amend the conditions under which small pension plans (i.e., those with fewer than 100 participants) will be exempt from the requirements of section 103(a)(3)(A) to engage an independent qualified public accountant and to include the report of such accountant as part of the plan's annual report. Specifically, the amendment would condition the availability of the exemption on the plan meeting certain additional conditions regarding plan assets being held by a regulated financial institution and related improvements in fidelity bonding and disclosures to plan participants and beneficiaries. This initiative is being undertaken to improve security and accountability with respect to assets of small employee pension benefit plans.
Agency: Department of Labor(DOL)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 29 CFR 2520.104-41 29 CFR 2520.104.46
Legal Authority: 29 USC 1135 29 USC 1024 29 USC 1191c Secretary of Labor's Order No. 1-87, April 21,1987

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	12/00/1999

Regulatory Flexibility Analysis Required: Yes	Government Levels Affected: None
Small Entities Affected: Businesses
Included in the Regulatory Plan: No
Agency Contact: John Keene Pension Law Specialist Department of Labor Employee Benefits Security Administration Room N5669, 200 Constitution Avenue NW, FP Building, Washington, DC 20210 Phone:202 219-8521