DRAFT INSTITUTE LETTER TO DEPARTMENT OF LABOR CONCERNING PROPOSED AMENDMENTS TO PROHIBITED TRANSACTION EXEMPTION 75-1

[17630] June 7, 2004 TO: PENSION COMMITTEE No. 29-04 RE: DRAFT INSTITUTE LETTER TO DEPARTMENT OF LABOR CONCERNING PROPOSED AMENDMENTS TO PROHIBITED TRANSACTION EXEMPTION 75-1 Attached for your review is a draft letter in response to the Department of Labor’s proposed amendments to the mutual fund provisions of Part II of Prohibited Transaction Exemption 75-1.1 The letter supports the proposed amendments, and confirms the current utility of the exemption. In addition, the letter seeks clarification that the proposed amendments make no substantive changes to the scope of the exemption. If you have comments or questions concerning the draft letter, please contact me by telephone at (202) 371-5432, by fax at (202) 326-5841, or by email at kireland@ici.org by Thursday, June 10. Kathy D. Ireland Senior Associate Counsel Attachment no. 1 (in .pdf format) 1 See Institute Memorandum to Pension Committee No. 24-04, dated April 29, 2004.