12 Aug 2025
📜Withdrawal of Annuity Provider Selection Regulation Impacting Businesses
Selection of Annuity Providers-Safe Harbor for Individual Account Plans; Withdrawal
Summary
Due to the receipt of significant adverse comments, the Department of Labor (Department) is withdrawing the July 1, 2025 direct final rule (DFR) published at 90 FR 28007.
Agencies
- Labor Department
- Employee Benefits Security Administration
Business Impact
$$ - Med
The regulatory text discusses the withdrawal of a direct final rule regarding the selection of annuity providers, which has implications for compliance and regulatory requirements for businesses managing individual account plans. This affects employers regarding their retirement plan offerings.