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Uncle Sam Publishes To-Do Lists

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Federal agencies today updated the lists of regulations they are trying to develop and revise.

The agencies publish the “semiannual regulatory agenda” every 6 months in the Federal Register.

The Internal Revenue Service, an arm of the U.S. Treasury Department, has many regulatory projects of interest to insurers in the proposed rule stage.

The IRS to-do list, which is on the Web includes items such as developing the rules for hybrid retirement plans, updating the rules governing cafeteria plans, and setting guidelines for retirement benefit streams with several different starting dates.

In addition, the IRS is asking members of the public for recommendations about what sorts of guidance it should issue during the year starting July 1.

The deadline for IRS guidance wish lists is May 31, according to IRS Notice 2007-41, which is on the Web Document Link’>Document Link’>Document Link

Another federal agency, the Employee Benefits Security Administration, the U.S. Labor Department arm that regulates employee benefit plans, is developing an amendment to the rules that determine when employee contributions to a plan become plan assets.

EBSA also is working on a regulation that would govern annuity provider selection for retirement plans and a prohibited transaction exemption for efforts to provide investment advice for retirement plan members.

EBSA hopes to publish a “notice of proposed rule-making” for the investment advice regulation in September.

The semiannual regulatory agenda for EBSA and other Labor Department agencies is on the Web ‘>Document Link

The U.S. Securities and Exchange Commission has posted its semiannual regulatory agenda

One SEC effort that could affect life insurers’ asset-management affiliates is a change in the rules governing “funds of funds,” or investment companies that invest in funds managed by other investment companies.


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