SECURE Act’s annuity provisions to get Labor Department input
March 10, 2020 by Robert Steyer
The Department of Labor expects to write new rules or issue guidance to help implement the annuity safe harbor provision of the SECURE Act, said Preston Rutledge, the agency’s assistant secretary for the Employee Benefits Security Administration.
“Although the law contains no specific regulatory direction to EBSA, we expect some stakeholders may request some regulations or guidance,” he said Monday in a video address at the Pensions & Investments DC East 2020 Conference in Orlando, Fla. Mr. Rutledge had been scheduled to present a keynote address at the conference, but federal government restrictions on employee travel due to the coronavirus outbreak necessitated his video presentation.
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