Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Defined Contribution Retirement Plan Senior Administrator

First American Bank
(Elk Grove Village IL / Hybrid)

First American Bank logo

Defined Benefit Consultant/Enrolled Actuary

Pension Plan Specialists, PC
(Vancouver WA)

Pension Plan Specialists, PC logo

Senior Retirement Plan Administrator

Envoy Financial
(Colorado Springs CO / Hybrid)

Envoy Financial logo

Retirement Plan Consultant

July Business Services
(Remote / Woodway TX)

July Business Services logo

Retirement Plan Administrator

CMC Pension Professionals
(Remote)

CMC Pension Professionals logo

AVP and Assistant General Counsel, Employee Benefits

MetLife
(New York NY / Whippany NJ / Cary NC / Hybrid)

MetLife logo

401(k) Retirement Plan Consultant

Aboon
(Remote)

Aboon logo

Regional Sales Director (West)

July Business Services
(Remote)

July Business Services logo

Manager of DC/DB Administration Team

Small TPA Firm
(Remote / NJ)

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile app icon
LinkedIn icon     Twitter icon     Facebook icon
Webinars
and Podcasts
  >  Upcoming   |   Recorded
Conferences
(In-Person or Virtual)
  >  Upcoming   |   Grouped by Location
All   >  Upcoming   |   Grouped by Sponsor

View More Strafford Webinars, Podcasts and Conferences

DOL Final Amendment to the QPAM Exemption: Key Provisions and Challenges for Sponsors and Asset Managers

Strafford

June 4, 2024
1:00 p.m. - 2:30 p.m. ET
Webinar

This CLE webinar will provide employee benefits counsel and advisers an in-depth analysis of the final amendment to the qualified professional asset manager (QPAM) exemption under ERISA. The panel will discuss key provisions impacting plan sponsors and asset managers, reporting and record keeping requirements, eligibility criteria, conduct that would result in ineligibility and process for requesting an individual prohibited transaction exemption, and other key issues stemming from the final amendment to the QPAM exemption.

Description

On Apr. 3, 2024, the DOL issued the final amendment to the QPAM prohibited transaction class exemption, effective June 17, 2024. The final QPAM amendment includes strict requirements and compliance obligations for investment managers seeking to qualify for the exemption in addition to an expansion of conduct that will be considered "prohibited misconduct" under the rules.

According to the DOL, these amendments were necessary to align with the substantial changes that have occurred in the financial services industry since the inception of the QPAM Exemption back in 1984. These changes have significant implications for fiduciaries of retirement plans subject to ERISA that engage QPAMs.

Fiduciaries and employee benefits counsel must recognize and understand critical provisions under the final amendments to the QPAM exemption, such as the (1) expansion of what is considered to be prohibited misconduct and restrictions on anyone with certain criminal convictions; (2) limitations regarding the transition period if an investment manager ceased to qualify as a QPAM; and (3) a new requirement that QPAMs register with the DOL.

Listen as our panel discusses key provisions impacting plan sponsors and asset managers, reporting and record keeping requirements, eligibility criteria, conduct that would result in ineligibility, the process for requesting an individual prohibited transaction exemption, and other key issues stemming from the final amendment to the QPAM exemption.

Outline

  1. Background of QPAM exemption
  2. DOL final amendment to QPAM exemption
  3. Recognizing "prohibited misconduct" in light of the amendment
  4. Claiming the QPAM exemption
  5. Next steps for plan sponsors and investment managers

More Information, How to Register

© 2024 BenefitsLink.com, Inc.