DOL Streamlines ERISA Exemption Filings

Law360, New York (August 30, 2010, 1:24 PM EDT) -- The U.S. Department of Labor's Employee Benefits Security Administration on Monday released a proposed regulation to update procedures for exemptions to prohibited transaction provisions of the Employee Retirement Income Security Act.

The proposed rule, published in Monday's Federal Register, is intended to clarify and consolidate the government's guidelines for obtaining an exemption from certain restrictions on ERISA plan fiduciaries, as well as to increase transparency on how exemptions are obtained.

The changes are being proposed to portions of ERISA that set up an extensive framework of...
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