ERISA's Fiduciary Saga Continues — DOL Issues Final Exemption with New Commentary | Dechert LLP
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...
Source: jdsupra.com