EBSAFinal RuleAugust 12, 2025

Removal of Definition of `Plan Assets'—Insurance Company General Accounts; Withdrawal

Finance & BankingLabor & Workplace

Summary

The federal government is withdrawing a previous rule that defined how insurance company general accounts should be treated as retirement plan assets. This change affects how retirement plans invested in insurance products are regulated and what protections apply to workers' retirement savings.

Key Points

1The government is removing a definition that clarified when insurance company general accounts count as 'plan assets' under federal retirement law
2This affects retirement plans that invest in insurance products, potentially changing oversight and accountability rules for those investments
3Workers with retirement savings in insurance-based plans may see different levels of protection and transparency
4The change means insurance companies and retirement plan managers will need to follow different rules about how these accounts are treated
5This withdrawal suggests the government is reconsidering how to regulate the intersection between insurance products and retirement savings

Impact Assessment

If you are a worker with retirement savings invested in insurance company products, this means your plan may have fewer regulatory protections and clearer guidelines about how those investments are classified and safeguarded.

Impact Level

Significant

Geographic Scope

National

Compliance Cost

Moderate

Who is Affected

Financial InstitutionsWorkers/LaborersSmall Businesses

Key Dates

Published

August 12, 2025

Regulatory Connections

Authorized By

Employee Retirement Income Security Act (ERISA) Section 3

Amends CFR Sections

29 CFR Part 2550

Other Documents in This Rulemaking (EBSA-2025-0038)

EBSAFinance & Banking

Definition of Plan Assets—Insurance Company General Accounts

Read on Federal Register View Docket

This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.