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DOL Issues Final Fiduciary Safe Harbor for Annuity Purchases by Defined Contribution Plans
Deloitte Link to more items from this source
[Guidance Overview]
Oct. 15, 2008
Excerpt: Responding to a statutory mandate, the Department of Labor has issued new rules intended to make annuities a more appealing benefit distribution option for 401(k) and other defined contribution plans. An oft-cited obstacle to defined contribution plans offering annuity options is the DOL's 'safest annuity available' rule, which has been applied both to defined benefit and defined contribution plans. However, the Pension Protection Act ... directed DOL to amend its guidance to clarify the 'safest annuity available' rule does not apply to defined contribution plans.

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