Department of Labor Proposes Amendments to QPAM Exemption

On September 3, 2003 the Department of Labor published a proposed amendment to the ERISA “QPAM Exemption”, the class exemption from ERISA’s prohibited transaction restrictions that is designed to permit a wide range of customary investment transactions engaged in by a plan managed by an independent financial institution qualifying as a “QPAM” under the terms of the exemption.

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