Labour market · 15/01/2025

DOL Finalizes Amendment to Prohibited Transaction Exemption 2002-51 to Permit Certain Transactions Under Voluntary Fiduciary Correction Program

The Department of Labor has finalized an amendment to Prohibited Transaction Exemption 2002-51, allowing employers to avoid potential civil enforcement actions and penalties by correcting eligible transactions under the Voluntary Fiduciary Correction Program, which simplifies and expands the program to make it easier for employers to use and benefit from the relief provided.