Retirement Plans Newsletter

BULLETIN
June 17, 2020

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[Official Guidance]

Text of DOL Request for Information: Prohibited Transactions Involving Pooled Employer Plans Under the SECURE Act and Other Multiple Employer Plans

15 pages. "As a result of the SECURE Act amendments to ERISA and the Code, a variety of service providers may decide to become pooled plan providers. The Department is seeking information regarding the possible parties, business models, conflicts of interest, and prohibited transactions that might exist in connection with PEPs, for the purpose of assessing the need for new prohibited transaction exemptions or amendments to existing exemptions. This document also requests information on similar issues involving MEPs.... This document contains a number of questions."

Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]

DOL Publishes Request for Information on Pooled Employer Plans and Other Multiple Employer Plans

"The RFI is an opportunity for the public to provide data and information that may be used to evaluate whether [EBSA] should propose a new prohibited transaction class exemption. Information is requested on the possible parties, business models, and conflicts of interest that respondents anticipate will be involved in the formation and ongoing operation of PEPs. Also requested is information on similar issues involving multiple employer plans sponsored by employer groups or associations or professional employer organizations. There is a 30-day comment period that begins upon publication of the RFI in the Federal Register. Complete instructions for submitting comments are found in the RFI."

Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]

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