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There are sometimes a few proposals which were not funded in their entirety, those few being scaled back from their original
level of requested funding (allowable under the program).
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*While the agency has implemented many of the recommendations provided by the Council, the agency does not specifically track
this information in this way. There are many complications involved in such a calculation, including that many of the Council’s
recommendations were not for specific agency action but instead either stated support for actions already underway by the
agency, called for actions beyond the jurisdiction of the agency, or necessitated statutory changes. Further, in some cases,
actions recommended by the Council are currently under consideration and are in some form of completion, but have not yet
been implemented. However, as mentioned above, there are many recommendations that the agency has implemented, including the
2002 recommendation to make the electronic filing of Form 5500s mandatory, the 2003 recommendation to add “life-stage funds”
or “diversified balanced portfolios” as default options (merged with Pension Benefit Statements proposed rulemaking), the
2004 recommendation to require retirement plan service providers to provide information on all compensation received by the
provider in connection to its services to the plan, and the 2006 recommendation to grant a class exemption to in-house asset
managers. The agency is presently evaluating several other recommendations offered for implementation. Furthermore, the agency
frequently cites the recommendations of the Council in its policy pronouncements. The agency has cited the role of the Council’s
recommendations from FY2002-2009 in at least 16 instances of policy or Guidance pronouncements. For instance, the agency’s
February 2010 Request for Information Regarding Lifetime Income Options for Participants and Beneficiaries in Retirement Plans
cited the 2007 and 2008 recommendations by the Council.
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