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F act Sheet - DOL

F UEmFe Tsebe rdiem B O Fact Departmenmployee Beneebruary 2012 The Employee ervice providereneficiaries. Rreasonable anischarge these mployee benefBackground The Emfiducia The agindivid In receprovidcompl Many benefitmore dare com This fiensurewhen s EBSA writtenindustminor Overview of The fininform The finnot app Shent of Labor fits Security AFina Retirement Inrs and plan inResponsible plnd that only obligations isfit plan s servid mployee Benary, reportinggency overseedual account ent years, arraders are compex. of these chants for plans andifficult for mmpensated. inal rule estabe that responsselecting and published ann comments ry representa changes and f final Regunal rule requmation they neAssess reasoaffiliates, anIdentify potSatisfy reponal rule appliply to simplifeet Administration al RegulaDisclosIncome Securinvestments, tolan fiduciarie reasonable cs obtaining inices, the costs nefits Securityg, and disclosues approximatplans, such aangements fopensated ( ,nges have impnd their partimany plan spoblishes, for thsible plan fidu monitoring n interim finafrom plan spatives of empl revisions.)

The final regulation is effective for both existing and new contracts or arrangements between covered plans and CSPs as of July 1, 2012. The IFR’s April 1 effective date was extended to July 1, 2012 in order to allow CSPs more time to respond to the specific changes made to the IFR, which are contained in the final rule.

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