Clifford Chance
Department Of Labor Proposed Amendment To The QPAM Exemption
29 July 2022
On July 27, 2022, the U.S. Department of Labor published a proposed amendment to the QPAM Exemption rule that many fund managers rely on to manage the money of ERISA plans and IRAs (plan money). The 99-page proposal would radically alter the 38-year-old rule, introducing expanded circumstances for ineligibility and imposing new substantive requirements for managers of plan money.
