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eBook details

• Title: Default Investment Alternatives Under Participant Directed Individual Account Plans (US Employee Benefits Security Administration Regulation) (EBSA) (2018 Edition)
• Author : The Law Library
• Release Date : January 24, 2018
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 286 KB

Description

The Law Library presents the complete text of the Default Investment Alternatives Under Participant Directed Individual Account Plans (US Employee Benefits Security Administration Regulation) (EBSA) (2018 Edition).
Updated as of May 29, 2018

This document contains a final regulation that implements recent amendments to title I of the Employee Retirement Income Security Act of 1974 (ERISA) enacted as part of the Pension Protection Act of 2006, Public Law 109-280, under which a participant in a participant directed individual account pension plan will be deemed to have exercised control over assets in his or her account if, in the absence of investment directions from the participant, the plan invests in a qualified default investment alternative. A fiduciary of a plan that complies with this final regulation will not be liable for any loss, or by reason of any breach, that occurs as a result of such investments. This regulation describes the types of investments that qualify as default investment alternatives under section 404(c)(5) of ERISA. Plan fiduciaries remain responsible for the prudent selection and monitoring of the qualified default investment alternative. The regulation conditions relief upon advance notice to participants and beneficiaries describing the circumstances under which contributions or other assets will be invested on their behalf in a qualified default investment alternative, the investment objectives of the qualified default investment alternative, and the right of participants and beneficiaries to direct investments out of the qualified default investment alternative. This regulation will affect plan sponsors and fiduciaries of participant directed individual account plans, the participants and beneficiaries in such plans, and the service providers to such plans.

This ebook contains:
- The complete text of the Default Investment Alternatives Under Participant Directed Individual Account Plans (US Employee Benefits Security Administration Regulation) (EBSA) (2018 Edition)
- A dynamic table of content linking to each section
- A table of contents in introduction presenting a general overview of the structure

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