Memo #
22437

Draft Comment Letter on DOL Safe Harbor for Depositing Participant Contributions
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ACTION REQUESTED

[22437]

 

April 17, 2008

TO: PENSION COMMITTEE No. 16-08PENSION OPERATIONS ADVISORY COMMITTEE No. 15-08     RE: DRAFT COMMENT LETTER ON DOL SAFE HARBOR FOR DEPOSITING PARTICIPANT CONTRIBUTIONS

 

Attached for your comment is a draft letter to the Department of Labor on the proposal to amend the “plan assets” regulation to provide for a safe harbor for small plans for participant contributions deposited with a plan within seven business days. [1]  Our letter recommends that the Department extend the safe harbor to 10 business days and make it available to all plans.  Comments on the proposal are due to the Department by April 29, 2008. 

 

Please provide comments on the attached letter to the undersigned at adriggs@ici.org or (202) 218-3573 by April 25, 2008.

 

 

 

Anna Driggs
Assistant Counsel

 

 

Attachment 

 

 

endnotes

 [1]  See Memorandum to Pension Committee No. 8-08, Pension Operations Advisory Committee No. 8-08, [22293], dated March 3, 2008.