Data / Federal rules / 2024-09029
Abandoned Plan Regulations
The Employee Benefits Security Administration published this final rule in the Federal Register on May 17, 2024. It took effect on July 16, 2024.
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What the agency says
This rulemaking amends the Abandoned Plan Program regulations that provide streamlined procedures for the termination of, and distribution of benefits from, individual account pension plans that have been abandoned by their sponsoring employers. The regulations, which were adopted in 2006 under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), did not cover individual account pension plans whose sponsors are in liquidation under chapter 7 of the U.S. Bankruptcy Code. These interim final rules expand the regulations to cover these plans so that bankruptcy trustees may use the Abandoned Plan Program's streamlined procedures to terminate and wind them up. Other technical amendments also are being made to improve the efficiency and operation of the Abandoned Plan Program. The amendments will affect employee benefit plans (primarily small defined contribution plans), participants and beneficiaries, service providers, and individuals appointed to serve as bankruptcy trustees under chapter 7 of the U.S. Bankruptcy Code. The Department is also issuing an amendment to PTE 2006-06, the prohibited transaction exemption accompanying the Abandoned Plan Program regulations, elsewhere in this issue of the Federal Register.
Key facts
- Document number
- 2024-09029
- Type
- Final rule
- Action
- Interim final rules with request for comments
- Agency
- Labor Department; Employee Benefits Security Administration
- Published
- May 17, 2024
- Takes effect
- July 16, 2024
- Dates
- Effective Date. These interim final rules are effective on July 16, 2024.
- Regulation ID (RIN)
- 1210-AC04
- Code of Federal Regulations
- 29 CFR 2520; 29 CFR 2550; 29 CFR 2578
- Topics
- Accounting; Employee benefit plans; Fiduciaries; Investments; Pensions; Reporting and recordkeeping requirements; Retirement; Securities; Surety bonds; Trusts and trustees
- Significant
- Yes, under Executive Order 12866
- Pages
- 40
Other documents from the Employee Benefits Security Administration
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|---|---|---|
| Transparency in Coverage 2026-20447 · significant | Final rule | Oct 6 |
| Federal Independent Dispute Resolution Operations; Correction 2026-17622 · significant | Final rule | Aug 28 |
| Electronic Disclosure by Group Health Plans Under ERISA 2026-14917 · significant | Proposed rule | Jul 23 |
| Federal Independent Dispute Resolution Operations 2026-11140 · significant | Final rule | Jun 4 |
| Excepted Fertility Benefits 2026-09479 | Proposed rule | May 13 |
| Fiduciary Duties in Selecting Designated Investment Alternatives 2026-06178 | Proposed rule | Mar 31 |
| Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur 2026-05492 · significant | Final rule | Mar 20 |
| Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure; Extension of Comment Period 2026-04084 · significant | Proposed rule | Mar 2 |
Everything from the Employee Benefits Security Administration · Rules on accounting · Rules on employee benefit plans · Rules on fiduciaries · Published in May 2024
Read from the Federal Register API, last updated 2026-10-24. The document on federalregister.gov is the official record; dates and dockets can change through later corrections. Free to reuse with credit to SpecStream under CC BY 4.0.