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Guest Article
(From the May 5, 2008 issue of Deloitte's Washington Bulletin, a periodic update of legal and regulatory developments relating to Employee Benefits.)
The Department of Labor has modified the final qualified default investment alternative (QDIA) regulations to: (1) expand the definition of "stable value funds" which are entitled to grandfathered fiduciary relief, (2) explicitly allow a committee of the plan sponsor to manage the investment of a QDIA, and (3) delete the "round trip" restriction from those prohibited under the regulations. 73 FR 23349 (April 30, 2008). DOL further detailed the impact of certain aspects of the QDIA regulations in new Field Assistance Bulletin 2008-03.
Amendments to Final Regulations
The amendments -- which are applicable retroactive to December 24, 2007, the date the final QDIA regulations became effective -- modify three specific areas:
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Further Guidance through Field Assistance Bulletin 2008-03
FAB 2008-03 provides several clarifications on the application of the final QDIA regulations:
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![]() | The information in this Washington Bulletin is general in nature only and not intended to provide advice or guidance for specific situations.
If you have any questions or need additional information about articles appearing in this or previous versions of Washington Bulletin, please contact: Robert Davis 202.879.3094, Elizabeth Drigotas 202.879.4985, Mary Jones 202.378.5067, Stephen LaGarde 202.879-5608, Erinn Madden 202.572.7677, Bart Massey 202.220.2104, Mark Neilio 202.378.5046, Martha Priddy Patterson 202.879.5634, Tom Pevarnik 202.879.5314, Sandra Rolitsky 202.220.2025, Tom Veal 312.946.2595, Deborah Walker 202.879.4955. Copyright 2008, Deloitte. |
BenefitsLink is an independent national employee benefits information provider, not formally affiliated with the firms and companies who kindly provide much of the content and advertisements published on this Web site, including the article shown above. |