Employee Benefits Security Administration November 2024 – Federal Register Recent Federal Regulation Documents
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Proposed Exemption from Certain Prohibited Transaction Restrictions Involving Meta Platforms, Inc. Located in Menlo Park, CA
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). If the proposed exemption is granted, the Meta Platforms Inc. Health and Welfare Benefit Plan (the Plan) would enter into an insurance contract with Prudential Life Insurance Company of America (Prudential). The contract would cover the Plan's group term life insurance benefits, accidental death and dismemberment benefits, and survivor income benefits (the Covered Insurance). Prudential would then reinsure the Covered Insurance by entering into a reinsurance contract with Ekahi Insurance Company, LLC (Ekahi), an insurance company that is owned by Meta Platforms, Inc. (Meta). Importantly, at all times and in all events, Prudential would remain fully and completely responsible to the Plan with respect to the Covered Insurance, regardless of whether Ekahi met its obligations to Prudential.
Retirement Savings Lost and Found
This notice announces that the Office of Management and Budget's Office of Information and Regulatory Affairs has approved under the Paperwork Reduction Act of 1995 an information collection request developed by the Department of Labor's Employee Benefits Security Administration (Department or EBSA). Accordingly, EBSA is now collecting information from retirement plan administrators (e.g., via their recordkeepers) in order to establish and maintain the Retirement Savings Lost and Found online searchable database described in section 523 of the Employee Retirement Income Security Act of 1974. This database will help connect missing participants and other individuals who have lost track of their retirement benefits with retirement plans that may be holding such benefits. This information collection request is voluntary. This notice also provides guidance and announces an enforcement policy, both to incentivize and encourage the voluntary submission of data.
Extension of Certain Timeframes for Employee Benefit Plans, Participants, Beneficiaries, Qualified Beneficiaries, and Claimants Affected by Hurricane Helene, Tropical Storm Helene, or Hurricane Milton
This document announces the extension of certain timeframes under the Employee Retirement Income Security Act and the Internal Revenue Code for group health plans, disability and other welfare plans, pension plans, and participants, beneficiaries, qualified beneficiaries, and claimants of these plans affected by Hurricane Helene, Tropical Storm Helene, or Hurricane Milton.
Proposed Exemption From Certain Prohibited Transaction Restrictions Involving Boilermakers Western States Apprenticeship Fund Located in Page, Arizona
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). This proposed exemption would permit the purchase of a parcel of improved real property by the Boilermakers Western States Apprenticeship Fund (the Plan or Applicant) from a local union lodge whose members may be participants in the Plan. The Plan requests the exemption in order to continue to utilize the property to carry out its training program and its administrative duties.
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