Automatic Portability Transaction Regulations

1 organizations filed 1 public comment on Automatic Portability Transaction Regulations, at the Employee Benefits Security Administration. The comment window closed 851d ago.

Abstract

The Department of Labor’s Employee Benefits Security Administration is proposing regulations intended to enhance the security of workers’ retirement savings by providing a regulatory framework for automatic portability transactions. An automatic portability transaction involves a mandatory distributions from a retirement plan of benefits with a value of less than $7,000 to an IRA established on behalf of an individual when the individual leaves a job which are transferred to an eligible plan sponsored by the new employer when individual gets a new job. Automatic portability programs help worker retirement security by protecting against losing retirement savings when employees change jobs.

Commenters (1)

• U.S. Chamber of Commerce

  1 filing · confidence 97%