Proposed Amendment to PTE 80-51

This document is about a proposed amendment to Prohibited Transaction Exemption (PTE) 80-51 by the U.S. Department of Labor. The amendment would increase the percentage limitation on a plan's interest in a bank collective investment fund from 5% to 10% of the total assets in the fund. The purpose is to provide banks with more flexibility to deal with inadvertent fluctuations in plan participation levels and to eliminate the competitive disadvantage faced by bank collective investment funds compared to other pooled investment vehicles.