The Department of Labor (DOL) is asking for public comments on a request for information about insurance company pooled separate accounts. This request is being submitted to the Office of Management and Budget (OMB) for approval as required by the Paperwork Reduction Act. The feedback is due by April 14, 2025, and aims to ensure that the collection of information is useful, accurate, and not too burdensome. PTE 90-1 is the specific rule involved, which provides certain exemptions from restrictions for transactions involving insurance company accounts.
Simple Explanation
The Department of Labor wants to make sure that the rules about insurance company accounts are just right and not too confusing or hard, so they are asking people to share their thoughts and ideas about it. They will listen to everyone's feedback until April 14, 2025, to help make the rules better!