Employee Benefits Security Administration February 4, 2009 – Federal Register Recent Federal Regulation Documents
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Investment Advice-Participants and Beneficiaries
Consistent with the memorandum of January 20, 2009, from the Assistant to the President and Chief of Staff, entitled ``Regulatory Review,'' this document proposes to extend for 60 days the effective and applicability dates of final rules under the Employee Retirement Income Security Act, and parallel provisions of the Internal Revenue Code of 1986, relating to the provision of investment advice to participants and beneficiaries in individual account plans, such as 401(k) plans, and beneficiaries of individual retirement accounts (and certain similar plans). These rules were published in the Federal Register on January 21, 2009. Extending the effective date would allow the Department of Labor to evaluate comments on questions of law and policy concerning the rules. Thus, this document also seeks comments generally on the rules and on the merits of rescinding, modifying or retaining the rules.