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The ERISA Advisory Council discussed emerging trends in the annuities market, as well as concerns expressed by sponsors and other shareholders.
The ERISA Advisory Council met this week to discuss possible changes to IB 95-1, which outlines how fiduciaries should select an annuity provider.
The U.S. Department of Labor (the “DOL”) yesterday, on October 25, 2021, issued Field Advice Bulletin 2021-2 (the “2021 FAB”), along with an explanatory notice, (the “2021 Notice”) in...
To embed, copy and paste the code into your website or blog: Last week, the U.S. Department of Labor (the “DOL”) on December 15, 2020 issued a release (the “Release”) finalizing an important new initiative for retirement accounts (“Plans”) that are subject to the Employee Retirement Income Security Act of 1974 (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986 (the “Code”). The Release finalizes Prohibited Transaction Class Exemption (“PTCE”) 2020-2, which provides an exemption from ERISA’s and the Code’s prohibited transaction rules for individuals and...