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Final Regulations

Proposed Regulations and Class Exemption on Investment Advice

The Department of Labor has proposed regulations for 401(k) plans wishing to provide investment advice to workers and their families. Norman Stein submitted comments on behalf of the Pension Rights Center.


Proposed Model Cutback Notice

The U.S. Department of Labor’s Employee Benefits Security Administration has proposed a model notice [PDF] that will be sent to workers in multiemployer plans whose pensions may be reduced because their pension plan is severely underfunded.


Automatic Contribution Arrangements

The Internal Revenue Service has issued proposed regulations regarding automatic contribution arrangements, also known as automatic enrollment. The Pension Rights Center submitted comments.


Multi-Employer Pension Plan Information Made Available on Request

The Department of Labor issued proposed regulations regarding information available upon request from multiemployer plans. The Pension Rights Center submitted comments.


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.


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.


Default Investments

The Department of Labor issued final regulations on September 27, 2006 that set standards for default investment options in defined contribution plans when participants have been offered an opportunity to select an investment option but fail to do so.  This situation primarily arises when employers automatically enroll their employees in the company 401(k) and the employees do not


Protection for Early Retirement Benefits

New Rule Will Preserve Reemployment Rights

Under a final regulation issued by the Treasury Department, a change in pension plan rules limiting reemployment rights of certain early retirees will not affect pension benefits earned before the rule change.


Electronic Notices and Consents

New Regulation Allows Internet Waivers of Rights

The Treasury Department issued final regulations under the Paperwork Reduction Act permitting private retirement plans to provide certain required notices by computer rather than first-class mail. The regulation also permits employees and their spouses to give up specified rights by electronic means.


Multi-Employer Plan Funding Notices

On January 11, 2006 the Department of Labor issued final regulations on new funding notices for multiemployer pension plans.