Employee Benefits Security Administration – Federal Register Recent Federal Regulation Documents

Advisory Council on Employee Welfare and Pension Benefit Plans; Nominations for Vacancies
Document Number: 2024-15189
Type: Notice
Date: 2024-07-11
Agency: Employee Benefits Security Administration, Department of Labor
Proposed Exemption From Certain Prohibited Transaction Restrictions Involving Memorial Sloan Kettering Cancer Center (MSKCC or the Applicant) Located in New York, New York
Document Number: 2024-14961
Type: Notice
Date: 2024-07-09
Agency: Employee Benefits Security Administration, Department of Labor
This document provides notice of the pendency before the Department of Labor (the Department) of a proposed individual exemption 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) for the reinsurance of risks and the receipt of a premium by MSK Insurance US, Inc. (the Captive), a captive insurance and reinsurance subsidiary that is wholly-owned by MSKCC, in connection with a single premium group insurance contract sold by an unrelated fronting insurer (the Fronting Insurer) to provide pension annuities to Plan participants and beneficiaries if the conditions in Section III are met in conformance with the definitions in Section I.
Exemption for Certain Prohibited Transactions Involving the Association of Washington Business (AWB) HealthChoice Employee Benefits Trust Located in Olympia, Washington
Document Number: 2024-14959
Type: Notice
Date: 2024-07-09
Agency: Employee Benefits Security Administration, Department of Labor
This document gives notice of an individual exemption from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA). The exemption permits the trustee of a plan funded by the AWB HealthChoice Employee Benefits Trust (the Arrangement), to hire entities affiliated with AWB to provide services to the Arrangement for a fee subject to conditions designed to safeguard the interests of the plan and its participants and beneficiaries.
Agency Information Collection Activities; Request for Public Comment
Document Number: 2024-15030
Type: Notice
Date: 2024-07-09
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act, provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the public's reporting burden. It also helps the public understand the Department's information collection requirements and provide the requested data in the desired format. The Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collection requests (ICRs) contained in the documents described below. A copy of the ICRs may be obtained by contacting the office listed in the ADDRESSES section of this notice. ICRs also are available at reginfo.gov (https://www.reginfo.gov/public/do/PRAMain).
Proposed Exemption for Certain Prohibited Transaction Restrictions Involving UBS AG (UBS) Located in Zurich, Switzerland
Document Number: 2024-12746
Type: Notice
Date: 2024-06-11
Agency: Employee Benefits Security Administration, Department of Labor
This document provides notice of the pendency before the Department of Labor (the Department) of a proposed individual exemption 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). The Department previously issued an individual prohibited transaction exemption (PTE) 2023-14 that allowed certain asset managers related to UBS (the Applicant) and Credit Suisse Group AG (CSAG) to continue to rely on the exemptive relief provided by Prohibited Transaction Exemption 84-14 for one year following UBS' acquisition of CSAG. This proposed exemption would allow current and future asset managers under the UBS corporate umbrella to continue to rely on PTE 84-14 from June 12, 2024, to June 11, 2029 if certain conditions were met, notwithstanding the five judgments of conviction involving entities within the UBS and CSAG corporate umbrellas that are described below.
222nd Meeting of the Advisory Council on Employee Welfare and Pension Benefit Plans; Notice of Meeting
Document Number: 2024-12208
Type: Notice
Date: 2024-06-04
Agency: Employee Benefits Security Administration, Department of Labor
Prohibited Transaction Exemption 2006-06 for Services Provided in Connection With the Termination of Abandoned Individual Account Plans
Document Number: 2024-09030
Type: Rule
Date: 2024-05-17
Agency: Employee Benefits Security Administration, Department of Labor
This document gives notice of an amendment to prohibited transaction exemption (PTE) 2006-06, a class exemption issued under the Employee Retirement Income Security Act of 1974 (ERISA). The exemption permits a "qualified termination administrator" (QTA) of an individual account pension plan that has been abandoned by its sponsoring employer to select itself to provide services to the plan in connection with the plan's termination and pay itself fees for the services. This amendment to PTE 2006-06 permits chapter 7 trustees who elect to be QTAs to rely on the exemption. This amendment to PTE 2006- 06 also permits "eligible designees" of such chapter 7 trustees to rely on the exemption. The amendment is issued in connection with amendments to three related regulations under ERISA, published elsewhere in this issue of the Federal Register, that provide streamlined procedures for the termination of, and distribution of benefits from, abandoned individual account pension plans. The amendment would affect employee pension benefit plans (primarily small defined contribution plans), participants and beneficiaries of such plans, service providers, and individuals appointed to serve as bankruptcy trustees under chapter 7 of the U.S. Bankruptcy Code.
Abandoned Plan Regulations
Document Number: 2024-09029
Type: Rule
Date: 2024-05-17
Agency: Employee Benefits Security Administration, Department of Labor
This rulemaking amends the Abandoned Plan Program regulations that provide streamlined procedures for the termination of, and distribution of benefits from, individual account pension plans that have been abandoned by their sponsoring employers. The regulations, which were adopted in 2006 under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), did not cover individual account pension plans whose sponsors are in liquidation under chapter 7 of the U.S. Bankruptcy Code. These interim final rules expand the regulations to cover these plans so that bankruptcy trustees may use the Abandoned Plan Program's streamlined procedures to terminate and wind them up. Other technical amendments also are being made to improve the efficiency and operation of the Abandoned Plan Program. The amendments will affect employee benefit plans (primarily small defined contribution plans), participants and beneficiaries, service providers, and individuals appointed to serve as bankruptcy trustees under chapter 7 of the U.S. Bankruptcy Code. The Department is also issuing an amendment to PTE 2006-06, the prohibited transaction exemption accompanying the Abandoned Plan Program regulations, elsewhere in this issue of the Federal Register.
Definition of “Employer”-Association Health Plans
Document Number: 2024-08985
Type: Rule
Date: 2024-04-30
Agency: Employee Benefits Security Administration, Department of Labor
This document rescinds the Department of Labor's (Department or DOL) 2018 rule entitled "Definition of Employer Under Section 3(5) of ERISAAssociation Health Plans" (2018 AHP Rule). The 2018 AHP Rule established an alternative set of criteria from those set forth in the Department's pre-2018 AHP Rule (pre-rule) guidance for determining when a group or association of employers is acting "indirectly in the interest of an employer" under section 3(5) of the Employee Retirement Income Security Act of 1974 (ERISA) for purposes of establishing an association health plan (AHP) as a multiple employer group health plan. The 2018 AHP Rule was a significant departure from the Department's longstanding pre-rule guidance on the definition of "employer" under ERISA. This departure substantially weakened the Department's traditional criteria in a manner that would have enabled the creation of commercial AHPs functioning effectively as health insurance issuers. The Department now believes that the core provisions of the 2018 AHP Rule are, at a minimum, not consistent with the best reading of ERISA's statutory requirements governing group health plans.
Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128
Document Number: 2024-08068
Type: Rule
Date: 2024-04-25
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of amendments to Prohibited Transaction Exemptions (PTEs) 75-1, 77-4, 80-83, 83-1, and 86-128, which are class exemptions from certain prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986 (the Code). The amendments (collectively, the Mass Amendment) affect participants and beneficiaries of plans, individual retirement account (IRA) owners, and certain fiduciaries of plans and IRAs.
Amendment to Prohibited Transaction Exemption 84-24
Document Number: 2024-08067
Type: Rule
Date: 2024-04-25
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of amendment to Prohibited Transaction Exemption (PTE) 84-24, an exemption from certain prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986 (the Code). The amendment affects participants and beneficiaries of plans, individual retirement account (IRA) owners, and certain fiduciaries of plans and IRAs.
Amendment to Prohibited Transaction Exemption 2020-02
Document Number: 2024-08066
Type: Rule
Date: 2024-04-25
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of amendment to class prohibited transaction exemption (PTE) 2020-02, which provides relief for investment advice fiduciaries to receive certain compensation that otherwise would be prohibited. The amendment affects participants and beneficiaries of employee benefit plans, individual retirement account (IRA) owners, and fiduciaries with respect to such plans and IRAs.
Retirement Security Rule: Definition of an Investment Advice Fiduciary
Document Number: 2024-08065
Type: Rule
Date: 2024-04-25
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (Department) is adopting a final rule defining when a person renders "investment advice for a fee or other compensation, direct or indirect" with respect to any moneys or other property of an employee benefit plan, for purposes of the definition of a "fiduciary" in the Employee Retirement Income Security Act of 1974 (Title I of ERISA or the Act). The final rule also applies for purposes of Title II of ERISA to the definition of a fiduciary of a plan defined in Internal Revenue Code (Code), including an individual retirement account or other plan identified in the Code. The Department also is publishing elsewhere in this issue of the Federal Register amendments to Prohibited Transaction Exemption 2020-02 (Improving Investment Advice for Workers & Retirees) and to several other existing administrative exemptions from the prohibited transaction rules applicable to fiduciaries under Title I and Title II of ERISA.
Proposed Information Collection Request Submitted for Public Comment; Retirement Savings Lost and Found
Document Number: 2024-07968
Type: Notice
Date: 2024-04-16
Agency: Employee Benefits Security Administration, Department of Labor
The Department is proposing to collect information voluntarily in order to establish the Retirement Savings Lost and Found online searchable database described in section 523 of the Employee Retirement Income Security Act of 1974 (ERISA) and to connect missing participants and other individuals who have lost track of their retirement benefits with such benefits. The proposal solicits specific information from administrators of retirement plans subject to ERISA. Pursuant to the Paperwork Reduction Act of 1995 (PRA), the Department of Labor's Employee Benefits Security Administration (Department or EBSA) is soliciting comments on the proposed information collection request (ICR) described below.
Technical Correction to PTE 2016-11, Exemption From Certain Prohibited Transaction Restrictions: Northern Trust Corporation (Together With Its Current and Future Affiliates, Northern Trust or the Applicant)
Document Number: 2024-07128
Type: Notice
Date: 2024-04-04
Agency: Employee Benefits Security Administration, Department of Labor
This document makes a technical correction to Prohibited Transaction Exemption (PTE) 2016-11 granted to Northern Trust Corporation (D-11875) on October 28, 2016.
Short-Term, Limited-Duration Insurance and Independent, Noncoordinated Excepted Benefits Coverage
Document Number: 2024-06551
Type: Rule
Date: 2024-04-03
Agency: Employee Benefits Security Administration, Department of Labor, Department of Health and Human Services, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document sets forth final rules that amend the definition of short-term, limited-duration insurance, which is excluded from the definition of individual health insurance coverage under the Public Health Service Act. This document also sets forth final rules that amend the regulations regarding the requirements for hospital indemnity or other fixed indemnity insurance to be considered an excepted benefit in the group and individual health insurance markets.
Amendment to Prohibited Transaction Class Exemption 84-14 for Transactions Determined by Independent Qualified Professional Asset Managers (the QPAM Exemption)
Document Number: 2024-06059
Type: Rule
Date: 2024-04-03
Agency: Employee Benefits Security Administration, Department of Labor
This document gives notice of a granted amendment to prohibited transaction class exemption 84-14 (the QPAM Exemption). The QPAM Exemption provides relief from certain prohibited transaction restrictions of Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA) and Title II of ERISA, as codified in the Internal Revenue Code of 1986, as amended (the Code).
221st Meeting of the Advisory Council on Employee Welfare and Pension Benefit Plans; Notice of Meeting
Document Number: 2024-07019
Type: Notice
Date: 2024-04-03
Agency: Employee Benefits Security Administration, Department of Labor
Request for Information-SECURE 2.0 Section 319-Effectiveness of Reporting and Disclosure Requirements
Document Number: 2024-07018
Type: Proposed Rule
Date: 2024-04-03
Agency: Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Pension Benefit Guaranty Corporation, Agencies and Commissions, Department of the Treasury
This document extends the comment period for the request for information entitled "SECURE 2.0 Section 319Effectiveness of Reporting and Disclosure Requirements" that was published in the January 23, 2024, issue of the Federal Register. The comment period for the request for information, which had been scheduled to close on April 22, 2024, is extended 30 days to May 22, 2024.
Exemption From Certain Prohibited Transaction Restrictions Involving TT International Asset Management Ltd (TTI or the Applicant) Located in London, United Kingdom
Document Number: 2024-06125
Type: Notice
Date: 2024-03-22
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of exemption 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). This exemption allows TTI to continue to rely on the exemptive relief provided by Prohibited Transaction Class Exemption 84- 14 (PTE 84-14 or the QPAM Exemption), notwithstanding the judgment of conviction against SMBC Nikko Securities, Inc. (Nikko Tokyo), as described below.
Proposed Exemption for DWS Investment Management Americas, Inc. and Certain Current and Future Asset Management Affiliates of Deutsche Bank AG Located in New York, NY
Document Number: 2024-03358
Type: Notice
Date: 2024-02-21
Agency: Employee Benefits Security Administration, Department of Labor
This document provides notice of the pendency before the Department of Labor (the Department) of a proposed individual exemption from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA or the Act). This proposed exemption would permit certain qualified professional asset managers within the corporate family of Deutsche Bank AG (Deutsche Bank), including DWS Investment Management Americas Inc. (DIMA or the Applicant), and certain current and future affiliates of Deutsche Bank (each a DB QPAM), to continue to rely on the class exemptive relief granted in Prohibited Transaction Exemption (PTE) 84-14 (PTE 84-14, or the QPAM Exemption), notwithstanding the 2017 criminal conviction of DB Group Services (UK) Limited (DB Group Services).
Agency Information Collection Activities; Request for Public Comment
Document Number: 2024-02176
Type: Notice
Date: 2024-02-05
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act, provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the public's reporting burden. It also helps the public understand the Department's information collection requirements and provide the requested data in the desired format. The Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collection requests (ICRs) contained in the documents described below. A copy of the ICRs may be obtained by contacting the office listed in the ADDRESSES section of this notice. ICRs also are available at reginfo.gov (https://www.reginfo.gov/public/do/PRAMain).
Automatic Portability Transaction Regulations
Document Number: 2024-01208
Type: Proposed Rule
Date: 2024-01-29
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a proposed rule that would implement the statutory prohibited transaction exemption under section 4975 of the Internal Revenue Code (Code) for certain automatic portability transactions. Section 120 of the SECURE 2.0 Act of 2022 amended Code section 4975 to add a statutory exemption for the receipt of fees and compensation by an automatic portability provider for services provided in connection with an automatic portability transaction. Specifically, Code section 4975(d)(25) provides prohibited transaction relief if the conditions set forth in Code section 4975(f)(12) are met. The Department of Labor is proposing this regulation because, with certain exceptions not relevant here, section 102 of Reorganization Plan No. 4 of 1978 transfers the authority of the Secretary of the Treasury to issue certain regulations, rulings, opinions, and exemptions under Code section 4975 to the Secretary of Labor. Consistent with this transfer of authority, Congress authorized and directed the Department of Labor to issue regulations under Code section 4975 to implement provisions of section 120 of the SECURE 2.0 Act.
Federal Independent Dispute Resolution (IDR) Process Administrative Fee and Certified IDR Entity Fee Ranges; Correction
Document Number: 2024-01378
Type: Rule
Date: 2024-01-24
Agency: Employee Benefits Security Administration, Department of Labor, Department of Health and Human Services, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document corrects technical errors that appeared in the December 21, 2023 final rules entitled, ``Federal Independent Dispute Resolution (IDR) Process Administrative Fee and Certified IDR Entity Fee Ranges.''
Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications
Document Number: 2024-00586
Type: Rule
Date: 2024-01-24
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department) is adopting amendments to its existing procedure governing the filing and processing of applications for administrative exemptions from the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA), the Internal Revenue Code of 1986 (the Code), and the Federal Employees' Retirement System Act of 1986 (FERSA) (the Amendments). The Secretary of Labor (the Secretary) is authorized to grant exemptions from the prohibited transaction provisions of ERISA, the Code, and FERSA and to establish an exemption procedure to provide for such relief. The Amendments update and supersede the Department's existing prohibited transaction exemption procedures.
Request for Information-SECURE 2.0 Section 319-Effectiveness of Reporting and Disclosure Requirements
Document Number: 2024-01077
Type: Proposed Rule
Date: 2024-01-23
Agency: Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Pension Benefit Guaranty Corporation, Agencies and Commissions, Department of the Treasury
The Department of the Treasury (Treasury Department), the Employee Benefits Security Administration (EBSA) of the U.S. Department of Labor (Labor Department), and the Pension Benefit Guaranty Corporation (PBGC) are publishing this Request for Information to develop a public record for purposes of the directive in the SECURE 2.0 Act of 2022 (SECURE 2.0). Specifically, this Request for Information addresses section 319 of SECURE 2.0, requiring that these agencies review the existing reporting and disclosure requirements for certain retirement plans under the Employee Retirement Income Security Act of 1974, as amended (ERISA) and the Internal Revenue Code (Code) that are applicable to each agency. Following this review, the agencies are to report to Congress, no later than December 29, 2025, concerning the effectiveness of the reporting and disclosure requirements. The report will include recommendations on consolidating, simplifying, standardizing, and improving such requirements with the dual goals of reducing compliance burdens and ensuring plan participants' and beneficiaries' timely receipt and better understanding of the information they need to monitor their plans, prepare for retirement, and get the benefits they have earned. The report will also consider how participants and beneficiaries are providing preferred contact information, the methods by which plan sponsors and plans are furnishing disclosures, and the rate at which participants and beneficiaries are receiving, accessing, understanding, and retaining disclosures. Consistent with the directive in section 319 of SECURE 2.0, this Request for Information focuses generally on the overall effectiveness of the reporting and disclosure frameworks in ERISA and the Code. Responses to this Request for Information will inform the agencies in preparation of the required report to Congress and in any future action taken by the agencies to enhance the effectiveness of existing requirements.
Federal Independent Dispute Resolution Operations; Reopening of Comment Period
Document Number: 2024-01072
Type: Proposed Rule
Date: 2024-01-22
Agency: Centers for Medicare & Medicaid Services, Department of Health and Human Services, Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Department of the Treasury, Office of Personnel Management
This document reopens the comment period for the proposed rules entitled ``Federal Independent Dispute Resolution Operations'' that appeared in the November 3, 2023, issue of the Federal Register. The comment period for the proposed rules, which closed on January 2, 2024, is reopened from January 22, 2024 to February 5, 2024.
Federal Independent Dispute Resolution (IDR) Process Administrative Fee and Certified IDR Entity Fee Ranges
Document Number: 2023-27931
Type: Rule
Date: 2023-12-21
Agency: Employee Benefits Security Administration, Department of Labor, Department of Health and Human Services, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document finalizes rules related to the fees established by the No Surprises Act for the Federal independent dispute resolution (IDR) process, as established by the Consolidated Appropriations Act, 2021 (CAA). These final rules amend existing regulations to provide that the administrative fee amount charged by the Department of the Treasury, the Department of Labor, and the Department of Health and Human Services (the Departments) to participate in the Federal IDR process, and the ranges for certified IDR entity fees for single and batched determinations, will be set by the Departments through notice and comment rulemaking. The preamble to these final rules also sets forth the methodology used to calculate the administrative fee and the considerations used to develop the certified IDR entity fee ranges. This document also finalizes the amount of the administrative fee for disputes initiated on or after the effective date of these rules. Finally, this document finalizes the certified IDR entity fee ranges for disputes initiated on or after the effective date of these rules.
Proposed Exemption for Certain Prohibited Transaction Restrictions Involving TT International Asset Management Ltd (TTI or the Applicant) Located in London, United Kingdom
Document Number: 2023-27937
Type: Notice
Date: 2023-12-20
Agency: Employee Benefits Security Administration, Department of Labor
This document provides notice of the pendency before the Department of Labor (the Department) of a proposed individual exemption from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA) and/or the Internal Revenue Code of 1986 (the Code). If this proposed exemption is granted, TT International Asset Management Ltd (TTI) will not be precluded from relying on the exemptive relief provided by Prohibited Transaction Class Exemption 84-14 (PTE 84-14 or the QPAM Exemption), notwithstanding the conviction of SMBC Nikko Securities, Inc. (Nikko Tokyo) in Tokyo District Court for attempting to peg, fix or stabilize the prices of certain Japanese equity securities that Nikko Tokyo was attempting to place in a block offering that occurred on February 13, 2023 (the Conviction).
Definition of “Employer”-Association Health Plans
Document Number: 2023-27510
Type: Proposed Rule
Date: 2023-12-20
Agency: Employee Benefits Security Administration, Department of Labor
This document proposes to rescind the Department of Labor's (Department or DOL) 2018 rule entitled ``Definition of Employer Association Health Plans'' (2018 AHP Rule). The 2018 AHP Rule establishes an alternative set of criteria from those set forth in the Department's pre-rule guidance for determining when a group or association of employers is acting ``indirectly in the interest of an employer'' under section 3(5) of the Employee Retirement Income Security Act of 1974 (ERISA) for purposes of establishing an association health plan (AHP) as a multiple employer group health plan. The 2018 AHP Rule's alternative criteria were set aside in large part by the U.S. District Court for the District of Columbia in New York v. United States Department of Labor. The district court found the bona fide association and working owner provisions in the rule to be an unreasonable interpretation of ERISA, inconsistent with congressional intent that ERISA applies to employee benefits arising out of employment relationships. The Department, after further review of the relevant statutory language, judicial decisions, and pre-rule guidance, and further consideration of ERISA's statutory purposes and related policy goals, now proposes to rescind in full the 2018 AHP Rule in order to resolve and mitigate any uncertainty regarding the status of the standards that were set under the 2018 AHP Rule, allow for a reexamination of the criteria for a group or association of employers to be able to sponsor an AHP, and ensure that guidance being provided to the regulated community is in alignment with ERISA's text, purposes, and policies.
Technical Correction to PTE 2016-10, Exemption From Certain Prohibited Transaction Restrictions: Royal Bank of Canada (Together With Its Current and Future Affiliates, RBC or the Applicant)
Document Number: 2023-27084
Type: Notice
Date: 2023-12-11
Agency: Employee Benefits Security Administration, Department of Labor
This document makes a technical correction to Prohibited Transaction Exemption (PTE) 2016-10 granted to the Royal Bank of Canada (D-11868) on October 28, 2016.
Exemption From Certain Prohibited Transaction Restrictions Involving Morgan Stanley & Co. LLC, and Current and Future Affiliates and Subsidiaries (Morgan Stanley or the Applicant) Located in New York, New York
Document Number: 2023-27082
Type: Notice
Date: 2023-12-11
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of exemption 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).
Hearing on Retirement Security Rule: Definition of an Investment Advice Fiduciary and Associated Prohibited Transaction Exemption Amendments
Document Number: 2023-25522
Type: Proposed Rule
Date: 2023-11-20
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor's Employee Benefits Security Administration (EBSA) will hold a virtual public hearing on December 12 through December 13, 2023, continuing (if necessary) on December 14, 2023, for the public to provide input on the Department's proposed Retirement Security Rule: Definition of an Investment Advice Fiduciary, proposed amendments to Prohibited Transaction Exemption (PTE) 2020-02, proposed amendments to PTE 84-24, and proposed amendments to several other existing administrative PTEs that are available to investment advice fiduciaries. EBSA welcomes requests from the general public to testify at the hearing.
220th Meeting of the Advisory Council on Employee Welfare and Pension Benefit Plans; Notice of Meeting
Document Number: 2023-24657
Type: Notice
Date: 2023-11-08
Agency: Employee Benefits Security Administration, Department of Labor
Proposed Exemption for Certain Prohibited Transaction Restrictions: Fedeli Group, Inc. Employee Benefits Plan Located in Cleveland, OH
Document Number: 2023-24401
Type: Notice
Date: 2023-11-06
Agency: Employee Benefits Security Administration, Department of Labor
This document provides notice of the pendency before the Department of Labor (the Department) of a proposed individual exemption from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA or the Act). This proposed exemption would permit the Fedeli Group, Inc. Employee Benefits Plan (the Benefit Plan) sponsored by Fedeli Group, Inc. (Fedeli Group or the Applicant) to enter into an insurance contract with THP Insurance Company, Inc. (THP), an unrelated insurance company, and THP will, in turn, enter a reinsurance arrangement with Risk Specialists LLC (Risk Specialists), a captive reinsurance company affiliated with Fedeli Group.
Proposed Amendment to Prohibited Transaction Exemption 2020-02
Document Number: 2023-23780
Type: Proposed Rule
Date: 2023-11-03
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of pendency before the Department of Labor (the Department) of a proposed amendment to class prohibited transaction exemption (PTE) 2020-02, which provides relief for certain compensation received by investment advice fiduciaries. The proposed amendment would affect participants and beneficiaries of Plans, IRA owners, and fiduciaries with respect to such Plans and IRAs.
Retirement Security Rule: Definition of an Investment Advice Fiduciary
Document Number: 2023-23779
Type: Proposed Rule
Date: 2023-11-03
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a proposed amendment to the regulation defining when a person renders ``investment advice for a fee or other compensation, direct or indirect'' with respect to any moneys or other property of an employee benefit plan, for purposes of the definition of a ``fiduciary'' in the Employee Retirement Income Security Act of 1974 (Title I of ERISA or the Act). The proposal also would amend the parallel regulation defining for purposes of Title II of ERISA, a ``fiduciary'' of a plan defined in Internal Revenue Code (Code) section 4975, including an individual retirement account. The Department also is publishing elsewhere in today's Federal Register proposed amendments to Prohibited Transaction Exemption 2020-02 (Improving Investment Advice for Workers & Retirees) and to several other existing administrative exemptions from the prohibited transaction rules applicable to fiduciaries under Title I and Title II of ERISA.
Federal Independent Dispute Resolution Operations
Document Number: 2023-23716
Type: Proposed Rule
Date: 2023-11-03
Agency: Centers for Medicare & Medicaid Services, Department of Health and Human Services, Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Department of the Treasury, Office of Personnel Management
This document sets forth proposed rules related to certain provisions of the No Surprises Act regarding the Federal independent dispute resolution (IDR) process, which was established as part of the Consolidated Appropriations Act, 2021 (CAA). These proposed rules would set forth new requirements relating to the disclosure of information that group health plans and health insurance issuers offering group or individual health insurance coverage must include along with the initial payment or notice of denial of payment for certain items and services subject to the surprise billing protections in the No Surprises Act. These proposed rules would also require plans and issuers to communicate information by using claim adjustment reason codes (CARCs) and remittance advice remark codes (RARCs), as specified in guidance, when providing any paper or electronic remittance advice to an entity that does not have a contractual relationship with the plan or issuer. This document also proposes to amend certain requirements related to the open negotiation period preceding the Federal IDR process, the initiation of the Federal IDR process, the Federal IDR dispute eligibility review, and the payment and collection of administrative fees and certified IDR entity fees. This document also proposes to define bundled payment arrangements, amend requirements related to batched items and services, and amend the rules for extensions of timeframes due to extenuating circumstances. Additionally, this document proposes to require plans and issuers to register in the Federal IDR portal. In accordance with Federal law, a summary of these rules may be found at https://www.regulations.gov/.
Proposed Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128
Document Number: 2023-23782
Type: Proposed Rule
Date: 2023-11-03
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of pendency before the Department of Labor (the Department) of proposed amendments to Prohibited Transaction Exemptions (PTEs) 75-1, 77-4, 80-83, 83-1, and 86-128, exemptions from certain prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986 (the Code). The amendments would affect participants and beneficiaries of plans, IRA owners, and certain fiduciaries of plans and IRAs.
Proposed Amendment to Prohibited Transaction Exemption 84-24
Document Number: 2023-23781
Type: Proposed Rule
Date: 2023-11-03
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of pendency before the Department of Labor (the Department) of a proposed amendment to Prohibited Transaction Exemption (PTE) 84-24, an exemption from certain prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code of 1986 (the Code). The amendment would affect participants and beneficiaries of plans, Individual Retirement Account (IRA) owners, and certain fiduciaries of plans and IRAs.
Request for Information; Coverage of Over-the-Counter Preventive Services
Document Number: 2023-21969
Type: Proposed Rule
Date: 2023-10-04
Agency: Employee Benefits Security Administration, Department of Labor, Department of Health and Human Services, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document is a request for information (RFI) regarding the application of the preventive services requirements under section 2713 of the Public Health Service Act (PHS Act) to over-the-counter (OTC) preventive items and services available without a prescription by a health care provider. The Department of the Treasury, the Department of Labor, and the Department of Health and Human Services (the Departments) are issuing this RFI to gather input from the public regarding the potential benefits and costs of requiring non- grandfathered group health plans and health insurance issuers offering non-grandfathered group or individual health insurance coverage to cover OTC preventive items and services without cost sharing and without a prescription by a health care provider; seek comment on any potential challenges associated with providing such coverage; understand whether and how providing such coverage would benefit consumers; and assess any potential burden that plans and issuers would face if required to provide such coverage.
219th Meeting of the Advisory Council on Employee Welfare and Pension Benefit Plans; Notice of Teleconference Meeting
Document Number: 2023-21688
Type: Notice
Date: 2023-10-02
Agency: Employee Benefits Security Administration, Department of Labor
Exemption From Certain Prohibited Transaction Restrictions Involving the Occidental Petroleum Corporation Savings Plan and the Anadarko Employee Savings Plan Located in Houston, TX
Document Number: 2023-21732
Type: Notice
Date: 2023-10-02
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of exemption issued by the Department of Labor (the Department) from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974. The exemption permits: (1) the acquisition, on August 3, 2020, by the Occidental Petroleum Corporation Savings Plan (the Oxy Plan) and the Anadarko Employee Savings Plan (the Anadarko Plan; together, the Plans), of stock warrants (the Warrants) issued by Occidental Petroleum Company, a party in interest with respect to the Plans; and (2) the holding of the Warrants.
Exemption From Certain Prohibited Transaction Restrictions Involving the Mitsubishi UFJ Trust and Banking Corporation Located in New York, NY
Document Number: 2023-21731
Type: Notice
Date: 2023-10-02
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of an exemption 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). The exemption permits certain transactions arising from credit arrangements involving Mitsubishi UFJ Trust and Banking Corporation (the Applicant or MUTB) and investment funds in which employee benefit plans invest.
Requirements Related to the Mental Health Parity and Addiction Equity Act; Extension of Comment Period
Document Number: 2023-21177
Type: Proposed Rule
Date: 2023-09-28
Agency: Employee Benefits Security Administration, Department of Labor, Department of Health and Human Services, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document extends the comment period for the proposed rules entitled ``Requirements Related to the Mental Health Parity and Addiction Equity Act'' that were published in the August 3, 2023, issue of the Federal Register. The comment period for the proposed rules, which had been scheduled to close on October 2, 2023, is extended 15 days to October 17, 2023.
Federal Independent Dispute Resolution (IDR) Process Administrative Fee and Certified IDR Entity Fee Ranges
Document Number: 2023-20799
Type: Proposed Rule
Date: 2023-09-26
Agency: Centers for Medicare & Medicaid Services, Department of Health and Human Services, Employee Benefits Security Administration, Department of Labor, Internal Revenue Service, Department of Treasury, Department of the Treasury
This document sets forth proposed rules related to the fees established by the No Surprises Act for the Federal independent dispute resolution (IDR) process, as established by the Consolidated Appropriations Act, 2021 (CAA). These proposed rules would amend existing regulations to provide that the administrative fee amount charged by the Department of the Treasury, the Department of Labor, and the Department of Health and Human Services (the Departments) to participate in the Federal IDR process, and the ranges for certified IDR entity fees for single and batched determinations will be set by the Departments through notice and comment rulemaking. These proposed rules would also set forth the methodology used to calculate the administrative fee and the considerations used to develop the certified IDR entity fee ranges. This document also proposes the amount of the administrative fee for disputes initiated on or after the later of the effective date of these rules or January 1, 2024. Finally, this document proposes the certified IDR entity fee ranges for disputes initiated on or after the later of the effective date of these rules or January 1, 2024. In accordance with 5 U.S.C. 553(b)(4), a summary of this rule may be found at https://www.regulations.gov/.
Agency Information Collection Activities; Request for Public Comment
Document Number: 2023-18276
Type: Notice
Date: 2023-08-25
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act, provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the public's reporting burden. It also helps the public understand the Department's information collection requirements and provide the requested data in the desired format. The Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collection requests (ICRs) contained in the documents described below. A copy of the ICRs may be obtained by contacting the office listed in the ADDRESSES section of this notice. ICRs also are available at reginfo.gov (https://www.reginfo.gov/public/do/PRAMain).
Proposed Exemption for Certain Prohibited Transaction Restrictions: United Automobile, Aerospace and Agricultural Implement Workers of America (the UAW or the Applicant) Located in Detroit, Michigan
Document Number: 2023-18231
Type: Notice
Date: 2023-08-24
Agency: Employee Benefits Security Administration, Department of Labor
This document provides notice of the pendency before the Department of Labor (the Department) of a proposed individual exemption 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). This proposed exemption would permit the receipt of a note by the UAW Retiree VEBA, as defined below, from the UAW, and the receipt of collateral on the note by the Retiree VEBA in connection with a court-approved settlement agreement.
218th Meeting of the Advisory Council on Employee Welfare and Pension Benefit Plans; Notice of Meeting
Document Number: 2023-17622
Type: Notice
Date: 2023-08-16
Agency: Employee Benefits Security Administration, Department of Labor
Exemption From Certain Prohibited Transaction Restrictions Involving the Liberty Media 401(k) Savings Plan and the Liberty Media 401(k) Savings Plan Trust Located in Englewood, Colorado
Document Number: 2023-17317
Type: Notice
Date: 2023-08-14
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a notice of an exemption 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). The exemption permits: the Liberty Media 401(k) Savings Plan's (the Plan) acquisition of certain stock subscription rights (the Rights) to purchase shares of the Series C Liberty SiriusXM common stock (the Series C Liberty SiriusXM Stock), in connection with a rights offering (the Rights Offering) by Liberty Media Corporation (the Applicant or LMC); and the Plan's holding of the Rights during the subscription period of the Rights Offering.
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