Amendments to Civil Penalties Under ERISA Section 502(c)(7), 44991 [E7-15568]
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Federal Register / Vol. 72, No. 154 / Friday, August 10, 2007 / Proposed Rules
yshivers on PROD1PC62 with PROPOSALS
stakeholders, the Department will
discuss each item listed in the
Framework Document as an issue for
comment. The Department will also
make a brief presentation on the
rulemaking process for these products.
The Department encourages those who
wish to participate in the public
meeting to obtain the Framework
Document and be prepared to discuss its
contents. However, public meeting
participants need not limit their
discussions to the topics in the
Framework Document. A copy of the
draft Framework Document is available
at: https://www.eere.energy.gov/
buildings/appliance_standards/. The
Department is also interested in
receiving views concerning other
relevant issues that participants believe
would affect energy conservation
standards for these products. The
Department also welcomes all interested
parties, whether or not they participate
in the public meeting, to submit in
writing by Friday, September 28, 2007,
comments and information on the
matters addressed in the Framework
Document and on other matters relevant
to consideration of standards for these
small electric motors.
The public meeting will be conducted
in an informal, facilitated, conference
style. There shall be no discussion of
proprietary information, costs or prices,
market shares, or other commercial
matters regulated by the U.S. antitrust
laws. A court reporter will be present to
prepare a transcript of the meeting.
After the public meeting and the
expiration of the period for submission
of written statements, the Department
will begin conducting the analyses as
discussed at the public meeting and
reviewing the comments received.
Anyone who would like to participate
in the public meeting, receive meeting
materials, or be added to the DOE
mailing list to receive future notices and
information regarding small electric
motors, should contact Ms. Brenda
Edwards-Jones at (202) 586–2945.
Issued in Washington, DC, on August 3,
2007.
Alexander A. Karsner,
Assistant Secretary, Energy Efficiency and
Renewable Energy.
[FR Doc. E7–15692 Filed 8–9–07; 8:45 am]
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DEPARTMENT OF LABOR
Employee Benefits Security
Administration
29 CFR Part 2560
RIN 1210–AB23
Amendments to Civil Penalties Under
ERISA Section 502(c)(7)
Employee Benefits Security
Administration, Labor.
ACTION: Proposed rule.
AGENCY:
SUMMARY: This proposed rule is a
companion to the Department of Labor/
Employee Benefits Security
Administration’s (Department) direct
final rule (published today in the ‘‘Rules
and Regulations’’ section of the Federal
Register) amending the Department’s
civil penalty regulation under section
502(c)(7) of the Employee Retirement
Income Security Act of 1974 (ERISA or
the Act) to reflect recent amendments to
section 502(c)(7) by the Pension
Protection Act of 2006. These
amendments authorize the Secretary of
Labor to assess civil penalties not to
exceed $100 per day for each violation
of section 101(m) of ERISA. Section
101(m) of ERISA requires plan
administrators of individual account
plans to notify participants and
beneficiaries of their right to sell the
company stock in their accounts and
reinvest the proceeds into other
investments available under the plan.
The Department is publishing these
amendments as a direct final rule
without prior proposal because the
Department views them as highly
technical and anticipates no significant
adverse comment. The Department has
explained its reasons in the preamble to
the direct final rule. If the Department
receives no significant adverse comment
during the comment period, no further
action on this proposed rule will be
taken. However, if the Department
receives significant adverse comment,
the Department will withdraw the direct
final rule and it will not take effect. In
that case, the Department will address
all public comments in a subsequent
final rule based on this proposed rule.
The Department will not institute a
second comment period on this rule.
Any parties interested in commenting
must do so during this comment period.
DATES: Comments must be received on
or before September 10, 2007.
ADDRESSES: To facilitate the receipt and
processing of comments, the
Department encourages interested
persons to submit their comments
electronically by e-mail to e-
PO 00000
Frm 00010
Fmt 4702
Sfmt 4702
44991
ORI@dol.gov, or by using the Federal
eRulemaking portal at
www.regulations.gov (follow
instructions for submission of
comments). Persons submitting
comments electronically are encouraged
not to submit paper copies. Persons
interested in submitting comments on
paper should send or deliver their
comments (at least three copies) to the
Office of Regulations and
Interpretations, Employee Benefits
Security Administration, Room N–5669,
U.S. Department of Labor, 200
Constitution Avenue, NW., Washington,
DC 20210, Attn: 502(c)(7) Civil Penalty.
Comments received will be posted
without change, including any personal
information provided, to
www.regulations.gov and https://
www.dol.gov/ebsa, and also available for
public inspection at the Public
Disclosure Room, Employee Benefits
Security Administration, Room N–1513,
U.S. Department of Labor, 200
Constitution Avenue, NW., Washington,
DC.
FOR FURTHER INFORMATION CONTACT:
Stephanie L. Ward, Office of
Regulations and Interpretations,
Employee Benefits Security
Administration, (202) 693–8500. This is
not a toll-free number.
As noted
above, in the ‘‘Rules and Regulations’’
section of today’s Federal Register, the
direct final rule being published makes
technical changes to the Department’s
existing civil penalty regulation at 29
CFR 2560.502c–7 for violations of
section 101(i) of ERISA, relating to
blackout notices, in order to conform
the regulation to section 502(c)(7) of
ERISA, as amended by the Pension
Protection Act of 2006, Public Law 109–
280, 120 Stat. 780, for violations of
section 101(m) of ERISA, relating to
diversification rights. The provisions
proposed here are those contained in
the direct final rule. Please refer to the
preamble and regulatory text of the
direct final rule for further information
and the actual text of the revisions.
Additionally, all information regarding
Statutory and Executive Orders for this
proposed rule can be found in the
Supplementary Information section of
the direct final rule.
SUPPLEMENTARY INFORMATION:
Signed at Washington, DC, this 3rd day of
August, 2007.
Bradford P. Campbell,
Acting Assistant Secretary, Employee Benefits
Security Administration, Department of
Labor.
[FR Doc. E7–15568 Filed 8–9–07; 8:45 am]
BILLING CODE 4510–29–P
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]]>Agencies
[Federal Register Volume 72, Number 154 (Friday, August 10, 2007)]
[Proposed Rules]
[Page 44991]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-15568]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
29 CFR Part 2560
RIN 1210-AB23
Amendments to Civil Penalties Under ERISA Section 502(c)(7)
AGENCY: Employee Benefits Security Administration, Labor.
ACTION: Proposed rule.
-----------------------------------------------------------------------
SUMMARY: This proposed rule is a companion to the Department of Labor/
Employee Benefits Security Administration's (Department) direct final
rule (published today in the ``Rules and Regulations'' section of the
Federal Register) amending the Department's civil penalty regulation
under section 502(c)(7) of the Employee Retirement Income Security Act
of 1974 (ERISA or the Act) to reflect recent amendments to section
502(c)(7) by the Pension Protection Act of 2006. These amendments
authorize the Secretary of Labor to assess civil penalties not to
exceed $100 per day for each violation of section 101(m) of ERISA.
Section 101(m) of ERISA requires plan administrators of individual
account plans to notify participants and beneficiaries of their right
to sell the company stock in their accounts and reinvest the proceeds
into other investments available under the plan.
The Department is publishing these amendments as a direct final
rule without prior proposal because the Department views them as highly
technical and anticipates no significant adverse comment. The
Department has explained its reasons in the preamble to the direct
final rule. If the Department receives no significant adverse comment
during the comment period, no further action on this proposed rule will
be taken. However, if the Department receives significant adverse
comment, the Department will withdraw the direct final rule and it will
not take effect. In that case, the Department will address all public
comments in a subsequent final rule based on this proposed rule. The
Department will not institute a second comment period on this rule. Any
parties interested in commenting must do so during this comment period.
DATES: Comments must be received on or before September 10, 2007.
ADDRESSES: To facilitate the receipt and processing of comments, the
Department encourages interested persons to submit their comments
electronically by e-mail to e-ORI@dol.gov, or by using the Federal
eRulemaking portal at www.regulations.gov (follow instructions for
submission of comments). Persons submitting comments electronically are
encouraged not to submit paper copies. Persons interested in submitting
comments on paper should send or deliver their comments (at least three
copies) to the Office of Regulations and Interpretations, Employee
Benefits Security Administration, Room N-5669, U.S. Department of
Labor, 200 Constitution Avenue, NW., Washington, DC 20210, Attn:
502(c)(7) Civil Penalty. Comments received will be posted without
change, including any personal information provided, to
www.regulations.gov and https://www.dol.gov/ebsa, and also available for
public inspection at the Public Disclosure Room, Employee Benefits
Security Administration, Room N-1513, U.S. Department of Labor, 200
Constitution Avenue, NW., Washington, DC.
FOR FURTHER INFORMATION CONTACT: Stephanie L. Ward, Office of
Regulations and Interpretations, Employee Benefits Security
Administration, (202) 693-8500. This is not a toll-free number.
SUPPLEMENTARY INFORMATION: As noted above, in the ``Rules and
Regulations'' section of today's Federal Register, the direct final
rule being published makes technical changes to the Department's
existing civil penalty regulation at 29 CFR 2560.502c-7 for violations
of section 101(i) of ERISA, relating to blackout notices, in order to
conform the regulation to section 502(c)(7) of ERISA, as amended by the
Pension Protection Act of 2006, Public Law 109-280, 120 Stat. 780, for
violations of section 101(m) of ERISA, relating to diversification
rights. The provisions proposed here are those contained in the direct
final rule. Please refer to the preamble and regulatory text of the
direct final rule for further information and the actual text of the
revisions. Additionally, all information regarding Statutory and
Executive Orders for this proposed rule can be found in the
Supplementary Information section of the direct final rule.
Signed at Washington, DC, this 3rd day of August, 2007.
Bradford P. Campbell,
Acting Assistant Secretary, Employee Benefits Security Administration,
Department of Labor.
[FR Doc. E7-15568 Filed 8-9-07; 8:45 am]
BILLING CODE 4510-29-P
