Response to DOL’s RFI on Expanding MEPs to Financial Institutions
SIFMA provided comments to the Department of Labor on the expansion of retirement plan options. DOL is seeking comments on…
SIFMA is pleased to provide comments regarding the Department of Labor’s (“Department”) proposed amendments to PTCE 75-1, Parts III and IV, 77-4, 80-83, and 83-1 (the “Class Exemptions”) under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and section 4975 of the Internal Revenue Code (“Code”) (referred to as the “Proposal”). SIFMA appreciates the opportunity to comment and hope that our comments are helpful to the Department as it assesses the impact of these changes to the current exemptions on IRAs, plans and their participants. SIFMA shares the Department’s interest in making sure that plans, their participants and IRAs are treated fairly in the market place and have the ability to trade effectively and efficiently in all markets.
SIFMA hopes that the Department will eliminate these amendments for all the reasons outlined. Should it choose not to do so, these comments point out additional flaws in the drafting.
See Also:
United States Department of Labor: Conflict of Interest Proposed Rule
See Also:
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