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Regulations

When Congress passes legislation, it often requires government agencies to issue rules interpreting important aspects of the new laws. The agencies are required to publish their proposed regulations and to invite the public to comment on them. They also often hold hearings where anyone can ask to speak. When the agencies issue their final regulations, these are also published.

Below is a listing of recent regulatory activities related to the private retirement system.

Requests for Information (View all)

Electronic Disclosure by Employee Benefit Plans

Electronic Disclosure by Employee Benefit Plans (June 6, 2011)

The U.S. Department of Labor issued a Request for Information regarding electronic disclosure by employee benefit plans. Read the Center's comments.

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Impact of Annuitization (May 3, 2010)

The Department of the Treasury and the Department of Labor issued a joint Request for Information (RFI) regarding the impact annuitization may have on workers participating in retirement plans.

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401(k) fee disclosure (July 24, 2007)

The Department of Labor submitted a Request for Information on the issue of 401(k) fee disclosure to plans and participants. The Pension Rights Center submitted comments.

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Proposed Regulations (View all)

Proposed IRS regulations that could undermine workers' legal rights without public input

The Pension Rights Center submitted comments to the Internal Revenue Service, objecting to a proposed delegation of authority to the IRS Commissioner to issue certain rules without public notice and comment.

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Proposed Regulations on Target Date Funds

The Department of Labor has proposed regulations on "target date" funds.  If adopted, the proposed regulations would require 401(k) plans to give employees more information about a type of mutual fund that changes the percentage of stocks and bonds held in the fund as people grow older.

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Definition of the Term ‘‘Fiduciary’’

The Department of Labor has proposed a regulation expanding the definition of the term "fiduciary".

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Final Regulations (View all)

Final 401(k) Fee Disclosure Regulations

Final 401(k) Fee Disclosure Regulations

On October 20, 2010, the Department of Labor issued final regulations that require private retirement savings plans, such as 401(k)s, to tell employees how much they are being charged in record-keeping, investment management and other fees.

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Final Rule to Improve Transparency of Fees and Expenses to Workers in 401(k)-Type Retirement Plans

A final regulation issued by the Department of Labor requires 401(k)-type plans to disclose fee information to plan participants.

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Qualified Domestic Relations Orders

The Department of Labor issued final regulations clarifying that private pension and retirement savings plans cannot reject court orders dividing benefits at divorce (Qualified Domestic Relations Orders- QDROs) that are issued after the death of an employee or retiree. The DOL issued interim final regulations in March 2007. Read the PRC’s comments on the interim final regulations.

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