Removal of Definition of “Plan Assets”-Insurance Company General Accounts

Document 2025-11650 is a Final Rule published by the Department of Labor in the Federal Register on July 1, 2025, with an effective date of September 2, 2025. This DFR removes 29 CFR 2550.401c-1 from the Code of Federal Regulations, which the Department of Labor (DOL) believes is obsolete. The regulation applies only to certain insurance policies or contracts issued to (or on behalf of) employee benefit plans on or before December 31, 1998. Given the unlikelihood that any of these policies or contracts remain in effect, the DOL believes the regulation is no longer needed and, if left on the books, could add confusion and unnecessary complexity. Removing obsolete regulations eliminates the burden on the public of having to determine whether they need to comply with the regulations. This action is being taken pursuant to Executive Order 14192, titled Unleashing Prosperity Through Deregulation.\1\ This action improves the daily lives of the American people by reducing unnecessary, burdensome, and costly Federal regulations. --------------------------------------------------------------------------- View the original at https://www.federalregister.gov/documents/2025/07/01/2025-11650/removal-of-definition-of-plan-assets-insurance-company-general-accounts.

No. Document 2025-11650 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.