• Summary Prospectus May Be Used to Satisfy ERISA § 404(c) Prospectus Delivery Requirement
  • September 17, 2009
  • Law Firm: Sutherland Asbill & Brennan LLP - Washington Office
  • In Field Assistance Bulletin 2009-03 (Sept. 8, 2009), the U.S. Department of Labor (DOL) approved the use of a summary prospectus (under the new disclosure framework for mutual funds published by the Securities and Exchange Commission in January 2009) to satisfy the prospectus delivery requirement of the regulations under the Employee Retirement Income Security Act of 1974 (ERISA) § 404(c) safe harbor for participant-directed retirement plans. By way of background: