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EBSA Releases Annuity Provider Rules

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The Employee Benefits Security Administration has released a collection of final rules and batches of guidance relating to 401(k) plans and defined benefit pension plans.

One rule deals with distribution of 401(k) benefits for missing beneficiaries of terminated plans, and a related document deals with what a plan administrator should do if it cannot find a missing member of an abandoned plan and wants to roll the missing members’ assets into an “inherited” individual retirement account.

Another rule deals with the selection of annuity providers to be used in the distribution of benefits from individual account plans, such as 401(k) plans.

A fourth document, an interpretation, limits the application of an earlier annuity provider selection bulletin to the selection of providers for defined benefit plans.


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