Institute Comments on Department of Labor Small Pension Plan Security Amendments

Washington, DC, February 8, 2000 - The Institute recently submitted a comment letter to the Department of Labor regarding the agency's proposed regulations on small pension plan security amendments. In the letter, the Institute makes two recommendations. First, "qualifying plan assets" should include assets for which registered transfer agents maintain records. Second, the annual audit requirement should be waived for small pension plans whose participants receive investment account statements, at least quarterly, directly from an independent qualifying plan recordkeeper, such as a financial institution or recordkeeping entity.