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DOL/EBSA | RIN: 1210-AB07 | Publication ID: Spring 2006 |
Title: Amendment of Section 404(c) Regulation--Disclosure | |
Abstract: This rulemaking will amend the regulations governing ERISA section 404(c) plans (29 CFR section 2550.404c-1) to ensure that the participants and beneficiaries in such plans are provided the information they need, including information about fees and expenses, to make informed investment decisions. The section 404(c) regulation sets forth the conditions under which participants and beneficiaries are considered to be exercising control over the assets in their account, thereby relieving plan fiduciaries from liability for the results of the investment decisions of the participant or beneficiary. The regulation conditions relief on participants and beneficiaries being furnished or having access to certain information about their plan and the investment options offered thereunder. This amendment is needed to clarify and improve the information currently required to be furnished to participants and beneficiaries. | |
Agency: Department of Labor(DOL) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 29 CFR 2550 | |
Legal Authority: 29 USC 1104(c) 29 USC 1135 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Federalism: No | |
Included in the Regulatory Plan: No | |
Agency Contact: Katherine D. Lewis Senior Pension Law Specialist Department of Labor Employee Benefits Security Administration Room N5669, 200 Constitution Avenue NW., FP Building, Room N-5655, Washington, DC 20210 Phone:202 693-8500 |