Pension Policy

When Congress passes legislation, it often requires government agencies to issue rules interpreting important aspects of the new laws. The agencies are required to publish their proposed regulations and to invite the public to comment on them. They also often hold hearings where anyone can ask to speak. When the agencies issue their final regulations, these are also published.

Below are some recent proposed and final regulations.

REQUESTS FOR INFORMATION

The Department of the Treasury and the Department of Labor issued a joint request for information regarding the impact annuitization may have on workers participating in retirement plans. Read the Pension Rights Center's response. PRC was also a part of the Women's Pension Coalition response. [Last updated: May 3, 2010]

PROPOSED RULES

The Department of Labor has proposed regulations for 401(k) plans wishing to provide investment advice to workers and their families. Read the Pension Rights Center's comments. [Last updated: May 5, 2010]

The Department of Labor has proposed regulations for 401(k) plans wishing to provide investment advice to workers and their families. Norman Stein submitted comments on behalf of the Pension Rights Center. [Last updated October 6, 2008]

The Department of Labor has issued proposed regulations regarding the issue of 401(k) fee disclosure to plan participants. Read the Pension Rights Center's summary. Read the Center's comments.
[Last updated September 8, 2008]

The Department of Labor has proposed a model critical status notice. Read the Pension Rights Center's summary of the proposed model notice. The Pension Rights Center submitted comments. [Last updated April 24, 2008]

The Internal Revenue Service has issued proposed regulations regarding automatic contribution arrangements, also known as automatic enrollment. The Pension Rights Center submitted comments.
[Last updated February 6, 2008]

The Department of Labor issued proposed regulations regarding information available upon request from multiemployer plans. The Pension Rights Center submitted comments.
[Last updated October 15, 2007]

The Department of Labor submitted a Request for Information on the issue of 401(k) fee disclosure to plans and participants. The Pension Rights Center submitted comments.
[Last updated July 24, 2007]

FINAL RULES

The Department of Labor issued final regulations clarifying that private pension and retirement savings plans cannot reject court orders dividing benefits at divorce (Qualified Domestic Relations Orders- QDROs) that are issued after the death of an employee or retiree. The DOL issued interim final regulations in March 2007. Read the PRC’s comments on the interim final regulations.
[Last updated June 17, 2010}

The Pension Benefit Guaranty Corporation issued final regulations clarifying the rules for administrative review process of the agency's decisions.
[Last updated July 3, 2008]

The Department of Labor issued final regulations on default investments for use when participants fail to select an investment option in a 401(k). Read a summary of the proposed rules and the Pension Rights Center's comments.
[Last updated October 24, 2007]

Early retirement benefits will be protected from plan amendments that suspend benefits under certain conditions. The benefits will be protected even if the amendment took effect before an individual’s retirement.
[Last updated October 5, 2006]

Pension plans are permitted to send certain required information to individuals by electronic means rather than by mail. This rule allows couples to give up their rights to widows and widowers benefits electronically.
[Last updated August 9, 2006]

Multiemployer plans must send funding status notices to participants, beneficiaries, the Pension Benefit Guaranty Corporation, etc.
[Last updated January 11, 2006]

Cost of living increases for pensioners that are included in a pension plan cannot be taken away even if the pensioners retired before the increase was granted.
[Last updated August 12, 2005]

Employees must receive plain-English notices if payment of a subsidized early retirement pension as a lump sum, rather than as a lifetime annuity, will result in forfeiture of the subsidy.
[Last updated December 17, 2003]

The Labor Department will help people going through divorce obtain documents from their spouse’s pension plan. Others can also get help.
[Last updated January 7, 2002]