Employee Benefits Security Administration June 2020 – Federal Register Recent Federal Regulation Documents

Financial Factors in Selecting Plan Investments
Document Number: 2020-13705
Type: Proposed Rule
Date: 2020-06-30
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (Department) in this document proposes amendments to the ``Investment duties'' regulation under Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA), to confirm that ERISA requires plan fiduciaries to select investments and investment courses of action based solely on financial considerations relevant to the risk-adjusted economic value of a particular investment or investment course of action.
Prohibited Transactions Involving Pooled Employer Plans Under the SECURE Act and Other Multiple Employer Plans
Document Number: 2020-13142
Type: Notice
Date: 2020-06-18
Agency: Employee Benefits Security Administration, Department of Labor
The Setting Every Community Up for Retirement Enhancement Act (SECURE Act) amended the Employee Retirement Income Security Act of 1974 (ERISA) to allow for pooled employer plans (PEPs). PEPs are required to designate a pooled plan provider who is a named fiduciary of the PEP. As a fiduciary, the pooled plan provider is subject to standards and restrictions in ERISA and the Internal Revenue Code, including the prohibited transaction provisions restricting fiduciaries of plans from engaging in conflict of interest transactions. This document requests information on the possible parties, business models, and conflicts of interest that respondents anticipate will be involved in the formation and ongoing operation of PEPs. This document also requests information on similar issues involving multiple employer plans sponsored by employer groups or associations or professional employer organizations (referred to herein as ``MEPs''). The Department of Labor (the Department) is considering whether to propose a class exemption on its own motion to cover prohibited transactions involving PEPs and MEPs.