2 pages. Excerpt: On October 7, 2008, the Department of Labor (DOL) published final regulations regarding the selection of annuity providers and annuity contracts for defined contribution plans. The final regulations establish a safe harbor in selecting an annuity provider for benefit distributions.... A fiduciary who wants to take advantage of the safe harbor may perform his review either when: Selecting an annuity provider and contract for making payments to a specific participant or beneficiary; or Selecting a provider to provide annuity payments at future dates to participants or beneficiaries. In this situation, the fiduciary must periodically review the annuity provider's financial ability to make all future payments under the annuity contract, as well as the reasonableness of the cost of the contract in relation to the benefits and services to be provided under the contract.

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