United States Steel and Carnegie Pension Fund (the Applicant), Located in New York, NY, 59001 [E9-27403]
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Federal Register / Vol. 74, No. 219 / Monday, November 16, 2009 / Notices
Signed at Washington, DC, this 10th day of
November 2009.
Ivan L. Strasfeld,
Director of Exemption Determinations,
Employee Benefits Security Administration,
U.S. Department of Labor.
[FR Doc. E9–27403 Filed 11–13–09; 8:45 am]
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
[Prohibited Transaction Exemption (PTE)
2009–24; Exemption Application No. D–
11465]
BILLING CODE P
United States Steel and Carnegie
Pension Fund (the Applicant), Located
in New York, NY
Employee Benefits Security
Administration, U.S. Department of
Labor (the Department).
ACTION: Notice of technical correction.
AGENCY:
On September 1, 2009, the
Department published PTE 2009–24 in
the Federal Register at 74 FR 45294.
PTE 2009–24 permits transactions
between parties in interest with respect
to the Former U.S. Steel Related Plans,
as defined in PTE 2009–24, and an
investment fund in which such plans
have an interest, provided that the
Applicant or its successor has
discretionary authority or control with
respect to the plan assets involved in
the transaction, and various enumerated
conditions are satisfied.
Due to a technical error appearing in
the final exemption, the Department is
hereby making a revision to the
document. On page 45298 of the grant
notice, the first paragraph under the
heading Temporary Nature of
Exemption is revised to read as follows:
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Temporary Nature of Exemption
The Department has determined that
the relief provided by this exemption is
temporary in nature. The exemption is
effective February 15, 2003, and will
expire on the day which is five (5) years
from the first day of the first fiscal year
of UCF after the date of the publication
of the final exemption in the Federal
Register (i.e., September 1, 2009).
Accordingly, the relief provided by this
exemption will not be available upon
the expiration of such five-year period
for any new or additional transactions,
as described herein, after such date, but
would continue to apply beyond the
expiration of such five-year period for
continuing transactions entered into
before the expiration of the five-year
period. Should the Applicant wish to
extend, beyond the expiration of such
five-year period, the relief provided by
this exemption to new or additional
transactions, the Applicant may submit
another application for exemption.
FOR FURTHER INFORMATION CONTACT: Mr.
Gary H. Lefkowitz of the Department at
(202) 693–8546. (This is not a toll-free
number.)
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DEPARTMENT OF LABOR
Employee Benefits Security
Administration
Prohibited Transaction Exemptions
and Grant of Individual Exemptions
Involving: PTE 2009–29, Iron Workers
Local 17 Pension Fun (the Plan), D–
11432, et al.
PTE 2009–29, Iron Workers Local 17 Pension
Fun (the Plan), D–11432;
PTE 2009–30, Urology Clinics of North
Texas, P,A. 401(k) Profit Sharing Plan and
Trust (The Plan), D–11483;
PTE 2009–31, Amendment to Prohibited
Transaction Exemption (PTE) 96–22, 61 FR
14828 (April 3, 1996), as amended by PTE
97–34, 62 FR 39021 (July 21, 1997), PTE
2000–58, 65 FR 67765 (November 13,
2000), PTE 2002–41, 67 FR 54487 (August
22, 2002) and PTE 2007–05, 72 FR 13130
(March 20, 2007) as corrected at 72 FR
16385 (April 4, 2007) (PTE 2007–05), (PTE
96–22), Involving the Wachovia
Corporation and its affiliates (Wachovia),
the Successor of First Union Corporation
and to PTE 2002–19, 67 FR 14979 (March
28, 2002), as amended by PTE 2007–05 and
PTE 2009–16, 74 FR 30623 (June 26, 2009)
(PTE 2002–19), Involving J.P. Morgan
Chase & Company and Its Affiliates,
D–11530;
PTE 2009–32, The Alaska LaborersConstruction Industry Apprenticeship
Training Trust (the Plan), L–11482.
AGENCY: Employee Benefits Security
Administration, Labor.
ACTION: Grant of individual exemptions.
SUMMARY: This document contains
exemptions issued by the Department of
Labor (the Department) from certain of
the prohibited transaction restrictions of
the Employee Retirement Income
Security Act of 1974 (ERISA or the Act)
and/or the Internal Revenue Code of
1986 (the Code).
A notice was published in the Federal
Register of the pendency before the
Department of a proposal to grant such
exemption. The notice set forth a
summary of facts and representations
contained in the application for
exemption and referred interested
persons to the application for a
complete statement of the facts and
representations. The application has
been available for public inspection at
the Department in Washington, DC. The
notice also invited interested persons to
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Fmt 4703
Sfmt 4703
59001
submit comments on the requested
exemption to the Department. In
addition the notice stated that any
interested person might submit a
written request that a public hearing be
held (where appropriate). The applicant
has represented that it has complied
with the requirements of the notification
to interested persons. No requests for a
hearing were received by the
Department. Public comments were
received by the Department as described
in the granted exemption.
The notice of proposed exemption
was issued and the exemption is being
granted solely by the Department
because, effective December 31, 1978,
section 102 of Reorganization Plan No.
4 of 1978, 5 U.S.C. App. 1 (1996),
transferred the authority of the Secretary
of the Treasury to issue exemptions of
the type proposed to the Secretary of
Labor.
Statutory Findings
In accordance with section 408(a) of
the Act and/or section 4975(c)(2) of the
Code and the procedures set forth in 29
CFR Part 2570, Subpart B (55 FR 32836,
32847, August 10, 1990) and based upon
the entire record, the Department makes
the following findings:
(a) The exemption is administratively
feasible;
(b) The exemption is in the interests
of the plan and its participants and
beneficiaries; and
(c) The exemption is protective of the
rights of the participants and
beneficiaries of the plan.
Iron Workers Local 17 Pension Fund (the
Plan) Located in Cleveland, Ohio
[Prohibited Transaction Exemption 2009–29;
Exemption Application No. D–11432]
Exemption
The restrictions in sections
406(a)(1)(A), 406(a)(1)(D), and 406 (b)(1)
and (b)(2) of the Act and the sanctions
resulting from the application of section
4975 of the Code, by reason of section
4975(c)(1)(A) and 4975(c)(1)(D) through
(E) of the Code, shall not apply to the
sale of a leasehold interest, which
includes an office building (the
Building) and certain rights pursuant to
a ground lease, held by the Plan, to the
Bridge, Structural and Ornamental Iron
Workers Local Union No. 17 (the
Union), a party in interest with respect
to the Plan, provided that the following
conditions are satisfied:
(a) The terms and conditions of the
sale are at least as favorable to the Plan
as those that the Plan could obtain in an
arm’s length transaction with an
unrelated party;
(b) The Plan receives the greater of
$285,000 or the fair market value of the
E:\FR\FM\16NON1.SGM
16NON1
]]>Agencies
[Federal Register Volume 74, Number 219 (Monday, November 16, 2009)]
[Notices]
[Page 59001]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-27403]
[[Page 59001]]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
[Prohibited Transaction Exemption (PTE) 2009-24; Exemption Application
No. D-11465]
United States Steel and Carnegie Pension Fund (the Applicant),
Located in New York, NY
AGENCY: Employee Benefits Security Administration, U.S. Department of
Labor (the Department).
ACTION: Notice of technical correction.
-----------------------------------------------------------------------
On September 1, 2009, the Department published PTE 2009-24 in the
Federal Register at 74 FR 45294. PTE 2009-24 permits transactions
between parties in interest with respect to the Former U.S. Steel
Related Plans, as defined in PTE 2009-24, and an investment fund in
which such plans have an interest, provided that the Applicant or its
successor has discretionary authority or control with respect to the
plan assets involved in the transaction, and various enumerated
conditions are satisfied.
Due to a technical error appearing in the final exemption, the
Department is hereby making a revision to the document. On page 45298
of the grant notice, the first paragraph under the heading Temporary
Nature of Exemption is revised to read as follows:
Temporary Nature of Exemption
The Department has determined that the relief provided by this
exemption is temporary in nature. The exemption is effective February
15, 2003, and will expire on the day which is five (5) years from the
first day of the first fiscal year of UCF after the date of the
publication of the final exemption in the Federal Register (i.e.,
September 1, 2009). Accordingly, the relief provided by this exemption
will not be available upon the expiration of such five-year period for
any new or additional transactions, as described herein, after such
date, but would continue to apply beyond the expiration of such five-
year period for continuing transactions entered into before the
expiration of the five-year period. Should the Applicant wish to
extend, beyond the expiration of such five-year period, the relief
provided by this exemption to new or additional transactions, the
Applicant may submit another application for exemption.
FOR FURTHER INFORMATION CONTACT: Mr. Gary H. Lefkowitz of the
Department at (202) 693-8546. (This is not a toll-free number.)
Signed at Washington, DC, this 10th day of November 2009.
Ivan L. Strasfeld,
Director of Exemption Determinations, Employee Benefits Security
Administration, U.S. Department of Labor.
[FR Doc. E9-27403 Filed 11-13-09; 8:45 am]
BILLING CODE P
