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Text of Prohibited Transaction Class Exemption on Establishment of Rollover IRAs by Employers (PDF)
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]Link to more items from this source
Sept. 28, 2004
7 pages. Excerpt: The exemption permits a fiduciary of a plan who is also the employer maintaining the plan to establish, on behalf of its separated employees, an individual retirement plan at a financial institution which is the employer or an affiliate, in connection with a Mandatory Distribution, as defined herein. Relief also is provided for a plan fiduciary to select a proprietary product as the initial investment for such individual retirement plan.

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