July 19, 1990
TO: PENSION COMMITTEE NO. 16-90
RE: DOL REGULATION UNDER ERISA SECTION 404(c)
__________________________________________________________
As you know, the Institute recently urged the Department of
Labor and the Office of Management and Budget to release in final
form the regulation under ERISA section 404(c) regarding
participant directed individual account plans. (See Institute
Memorandum to Pension Committee No. 13-90 dated June 15, 1990.)
The Institute has learned that the Department of Labor will
instead release the regulation in reproposed form in the next
several weeks and provide for a thirty day comment period.
We have scheduled a meeting on July 31, 1990 at 10:00 a.m.
at the Institute to begin preparation of the Institute's comment
letter on the reproposed regulation and to discuss other measures
that may be useful in assuring final adoption of the regulation.
Please call Wynetta Culbreath at (202) 955-3525 by Friday, July
27, 1990, if you will be able to attend the meeting.
W. Richard Mason
Assistant General Counsel