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PTE 79-60 -- Commission for an Insurance Agent/Broker Who Is the Employer
BenefitsLink Message BoardsLink to more items from this source
May 24, 2021

"I've been doing some research to see if there is an update to prohibited transaction exemption PTE 79-60. I have a broker who wants to start a defined benefit plan and include insurance in the plan where he is the broker. I've always known about the 5% rule, i.e., his commission from this transaction cannot exceed 5% of the total insurance commissions income received for the year. I found nothing to the contrary, i.e., no changes. Please let me know your thoughts/comments, if any. (PS insurance in pension plans should be illegal!)"

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