Pension & Benefits News DOL seeks comments on information collection concerning PTE 1977-4
Wednesday, January 22, 2020

DOL seeks comments on information collection concerning PTE 1977-4

By Pension and Benefits Editorial Staff

The Department of Labor is submitting the Employee Benefits Security Administration (EBSA) sponsored information collection request concerning Prohibited Transaction Class Exemption (PTE) 1977-4, to the Office of Management and Budget for review and approval for continued use, without change. This collection provides an exemption for an employee benefit plan’s purchase or sale of shares of an open-end investment company registered under the Investment Company Act of 1940 (mutual fund) when an investment advisor for the mutual fund or its affiliate is a plan fiduciary and not an employer of employees covered by the plan, provided certain conditions are met. The DOL seeks an extension for three more years. Public comments are invited.

Comments should be submitted by January 29, 2020, and should be sent to the Office of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-EBSA, Office of Management and Budget, Room 10235, 725 17th Street NW., Washington, DC 20503, fax: 202-395-5806 (this is not a toll-free number), or e-mail: [email protected].

Source: 84 FR 71980.

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