Retirement Rules Slim Down: Old Annuity Pick Gets Tossed
Published Date: 7/1/2025
Rule
Summary
This rule removes an old safety rule for picking annuity providers in retirement plans because a newer, simpler law already covers it. It affects companies managing retirement plans and helps cut confusing, costly rules. The change starts right away, making life easier and less expensive for everyone involved.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Annuity Safe-Harbor Rule Removed
The rule removes 29 CFR 2550.404a-4, a regulatory fiduciary safe harbor first published in 2008 for selecting annuity providers for benefit distributions from individual account retirement plans covered by Title I of ERISA. Congress amended ERISA in 2019 to add a statutory safe harbor for the same activity, and this action removes the older regulation immediately to reduce unnecessary and costly regulatory duplication.
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