Employee Benefits Security Administration April 30, 2008 – Federal Register Recent Federal Regulation Documents

The Department published in the Federal Register of October 24, 2007 (72 FR 60452), a final regulation providing relief from certain fiduciary responsibilities for fiduciaries of participant- directed individual account plans who, in the absence of directions from a participant, invest the participant's account in a qualified default investment alternative. The final regulation implemented recent amendments to title I of the Employee Retirement Income Security Act of 1974 (ERISA) enacted as part of the Pension Protection Act of 2006, Public Law 109-280. The Department has determined that two paragraphs in the final regulation, and one statement in the SUPPLEMENTARY INFORMATION, require correction. Accordingly, this document corrects the final regulation by revising these paragraphs.