DOL Proposes Significant Changes to VFCP Program
McDermott Will & Emery Employee Benefits
DECEMBER 22, 2022
On November 21, 2022, the US Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released a proposed amendment and restatement of the Voluntary Fiduciary Correction Program (VFCP), along with a proposed amendment to the Prohibited Transaction Exemption (PTE) 2002-51.
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