Promoting jobs, protecting people
NATLEX
Database of national labour, social security and related human rights legislation

United States of America (1,638) > Social security (general standards) (462)

Name: Final Regulation Regarding Participant Directed Individual Account Plans Rule (ERISA Section 404(c) Plans) (29 CFR Part 2550)
Country: United States of America
Subject(s): Old-age, invalidity and survivors benefit
Type of legislation: Regulation, Decree, Ordinance
Adopted on: 1992-10-02
Entry into force:
Published on: Federal Register, 1992-10-13, Vol. 57, No. 198, pp. 46906-46937, ISSN: 0097-6326
ISN: USA-1992-R-31274
Link: https://www.ilo.org/dyn/natlex/natlex4.detail?p_isn=31274&p_lang=en
Bibliography: Federal Register, 1992-10-13, Vol. 57, No. 198, pp. 46906-46937, ISSN: 0097-6326
Abstract/Citation: Contains a final regulation under section 404(c) of the Employee Retirement Income Security Act of 1974 (ERISA). That section provides that, where a participant or beneficiary of an employee pension benefit plan exercises control over assets in an individual account maintained for him under the plan, the participant or beneficiary is not considered a fiduciary by reason of his exercise of control and other plan fiduciaries are relieved of liability under part 4 of title I of ERISA for the results of the participant's or beneficiary's exercise of control. The regulation describes the circumstances in which section 404(c) applies to a transaction involving a participant's or beneficiary's exercise of control over his individual account.
Basic text(s):
Amended text(s):

© Copyright and permissions 1996-2014 International Labour Organization (ILO) | Privacy policy | Disclaimer