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Text of Amendment to Final EBSA Regs: Safe Harbor for Distributions from Terminated Retirement Plans, Including Orphan Plans (PDF)
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] [Official Guidance] Oct. 7, 2008
9 pages. Excerpt: The [DOL] is amending these regulations to reflect changes enacted as part of the Pension Protection Act of 2006 to the Internal Revenue Code of 1986 ... under which a distribution of a deceased plan participant's benefit from an eligible retirement plan may be directly transferred to an individual retirement plan established on behalf of the designated nonspouse beneficiary of such participant. Specifically, the amended regulations require as a condition of relief under the fiduciary safe harbor that benefits for a missing, designated nonspouse beneficiary be directly rolled over to an individual retirement plan that fully complies with Code requirements.... This final rule is effective November 6, 2008.
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