Labour market · 06/07/2010

DOL Amends PTE 84-14 for Plan Asset Transactions Determined by Independent Qualified Professional Asset Managers

The Department of Labor has amended the Prohibited Transaction Exemption (PTE) 84-14, allowing qualified professional asset managers (QPAMs) to manage investment funds containing the assets of their own plan or an affiliate's plan, while also providing relief for transactions involving office space and places of public accommodation. This change affects employee benefit plans, their sponsors, and other parties engaging in these transactions.