April 25, 1996
TO: PENSION COMMITTEE No. 12-96
RE: MEETING ON BUNDLED SERVICES ISSUES
______________________________________________________________________________
We have scheduled a meeting on Wednesday, May 15, 1996, 1:30 pm, at the Institutes
offices located at 1401 H Street, N.W. Lunch will be available before the meeting at 12:30 p.m.
The purpose of the meeting is to discuss ERISA issues presented by various bundled
service arrangements. The objective of the meeting is to determine what role the Institute
should play in this area. In particular, the Department of Labor currently is reviewing several
letter requests for interpretive rulings focusing on the use of 12b-1 fees and the prohibited
transaction rules at sections 406(a) and (b). It is anticipated that the Department will issue at
least one interpretive ruling in the near future, based on the "Frost Bank" letter request, which is
attached.
A meeting agenda and additional materials will be provided to attendees in advance of
the meeting.
Please RSVP by fax on the attached response sheet at (202) 326-5839 if you plan to
attend.
Russell G. Galer
Assistant Counsel - Pension
Attachments