Employee Benefits Security Administration – Federal Register Recent Federal Regulation Documents

Results 701 - 750 of 818
Prohibited Transaction Exemption (PTE) 2006-16; Class Exemption To Permit Certain Loans of Securities by Employee Benefit Plans
Document Number: E6-18238
Type: Notice
Date: 2006-10-31
Agency: Employee Benefits Security Administration, Department of Labor
This document amends and replaces Prohibited Transaction Exemption (PTE) 81-6 (46 FR 7527, January 23, 1981) and PTE 82-63 (47 FR 14804, April 6, 1982). PTE 81-6 exempts the lending of securities by employee benefit plans to certain banks and broker-dealers, and PTE 82- 63 exempts certain compensation arrangements for the provision of securities lending services by a plan fiduciary to an employee benefit plan. The final amendment incorporates the exemptions into one renumbered exemption, and expands the relief that was provided in PTEs 81-6 and 82-63 to include additional parties and additional forms of collateral subject to the specified conditions. The exemption affects participants and beneficiaries of employee benefit plans, persons who lend securities on behalf of such plans, and parties in interest who engage in securities lending transactions with such plans.
Proposed Extension of Information Collection; Comment Request; Summary Plan Description Requirements Under ERISA
Document Number: E6-18233
Type: Notice
Date: 2006-10-31
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)), 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 reporting burden on the public and the public understand the Department's information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the current approval of information collection provisions in the regulation pertaining to summary plan description requirements under ERISA. A copy of the information collection request (ICR) can be obtained by contacting the individual shown in the Addresses section of this notice.
Proposed Extension of Information Collection; Comment Request; ERISA Investment Manager Electronic Registration
Document Number: E6-18232
Type: Notice
Date: 2006-10-31
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)), 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 reporting burden on the public and the public understand the Department's information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the current approval of information collection provisions incorporated in the regulation pertaining to electronic registration of investment managers under ERISA. A copy of the information collection request (ICR) can be obtained by contacting the office shown in the Addresses section of this notice.
Proposed Extension of Information Collection; Comment Request; Employee Benefit Plan Claims Procedures Under ERISA
Document Number: E6-18231
Type: Notice
Date: 2006-10-31
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)), 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 reporting burden on the public and the public understand the Department's information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the current approval of information collection provisions incorporated in the regulation pertaining to employee benefit plan claims procedures under the Employee Retirement Income Security Act of 1974 (ERISA). A copy of the information collection request (ICR) may be obtained by contacting the office listed in the ADDRESSES section of this notice.
Proposed Extension of Information Collection; Comment Request Annual Report for Multiple Employer Welfare Arrangements (Form M-1)
Document Number: E6-18230
Type: Notice
Date: 2006-10-31
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)), 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 reporting burden on the public and the public understand the Department's information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments concerning a proposed extension of the current approval of an information collection entitled Annual Report for Multiple Employer Welfare Arrangements (Form M-1), contained in the Department's regulation at 29 CFR 2520.101-2, Multiple Employer Welfare Arrangements and Certain Other Entities that Offer or Provide Medical Care to the Employees of Two or More Employers. A copy of the Department's information collection request (ICR) may be obtained by contacting the office listed in the addresses section of this notice.
Grant of Individual Exemption To Amend Prohibited Transaction Exemption (PTE) 95-31 Involving the Financial Institutions Retirement Fund (the Fund) and the Financial Institutions Thrift Plan (the Thrift Plan) Located in White Plains, NY
Document Number: E6-17922
Type: Notice
Date: 2006-10-26
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a final exemption that amends PTE 95-31 (60 FR 18619, April 12, 1995), an exemption granted to the Fund and the Thrift Plan. PTE 95-31 involves the provision of certain services, and the receipt of compensation for such services, by Pentegra Services, Inc. (Pentegra), a wholly-owned, for-profit subsidiary corporation of the Fund. These transactions are described in a notice of pendancy that was published in the Federal Register on July 3, 2002 (67 FR 44643).
136th Full Council Meeting; Advisory Council on Employee Welfare and Pension Benefit Plans; Notice of Meeting
Document Number: E6-17705
Type: Notice
Date: 2006-10-23
Agency: Employee Benefits Security Administration, Department of Labor
Prohibited Transaction Exemption 2006-13; Grant of Individual Exemptions
Document Number: E6-15922
Type: Notice
Date: 2006-09-28
Agency: Employee Benefits Security Administration, Department of Labor
This document contains 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 (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 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.
Proposed Exemptions; Frank D. May, D.M.D., P.A. 401(k) Profit Sharing Plan and Trust (the Plan)
Document Number: E6-15789
Type: Notice
Date: 2006-09-27
Agency: Employee Benefits Security Administration, Department of Labor
This document contains notices of pendency before the Department of Labor (the Department) of proposed exemptions 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).
Default Investment Alternatives Under Participant Directed Individual Account Plans
Document Number: 06-8282
Type: Proposed Rule
Date: 2006-09-27
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a proposed regulation that, upon adoption, would implement recent amendments to title I of the Employee Retirement Income Security Act of 1974 (ERISA) enacted as part of the Pension Protection Act of 2006, Public Law 109-280, under which a participant of a participant directed individual account pension plan will be deemed to have exercised control over assets in his or her account if, in the absence of investment directions from the participant, the plan invests in a qualified default investment alternative. A fiduciary of a plan that complies with this proposed regulation will not be liable for any loss, or by reason of any breach that occurs as a result of such investments. The types of investments that qualify as default investment alternatives under section 404(c)(5) of ERISA are described in the proposal. Plan fiduciaries remain responsible for the prudent selection and monitoring of the qualified default investment alternative. The proposed regulation conditions relief upon advance notice to participants and beneficiaries describing the plan's provisions governing the circumstances under which contributions or other assets will be invested on their behalf in a qualified default investment alternative, the investment objectives of the default investment alternative, and the right of participants and beneficiaries to direct investments out of the default investment alternative without penalty. The regulation, upon adoption, will affect plan sponsors and fiduciaries of participant directed individual account plans, the participants and beneficiaries in such plans, and the service providers to such plans.
Independence of Employee Benefit Plan Accountants
Document Number: E6-14913
Type: Proposed Rule
Date: 2006-09-11
Agency: Employee Benefits Security Administration, Department of Labor
This document requests information from the public concerning the advisability of amending Interpretive Bulletin 75-9 (29 CFR 2509.75-9) relating to guidelines on independence of accountants retained by employee benefit plans under section 103(a)(3)(A) of the Employee Retirement Income Security Act of 1974 (ERISA). Under ERISA, unless otherwise exempt, the plan administrator is required to retain on behalf of all plan participants an ``independent qualified public accountant'' to examine the financial statements of the plan and render an opinion as to whether the financial statements and schedules required to be included in the plan's annual report are presented fairly in conformity with generally accepted accounting principles (GAAP). The purpose of this notice is to obtain information to assist the Department of Labor in evaluating whether and to what extent Interpretive Bulletin 75-9 provides adequate guidance to meet the needs of plan administrators, other plan fiduciaries, participants and beneficiaries, accountants, and other affected parties on when a qualified public accountant is independent.
Advisory Council on Employee Welfare and Pension Benefit Plans; 135th Full Council Meeting; Notice of Meeting
Document Number: E6-14571
Type: Notice
Date: 2006-09-01
Agency: Employee Benefits Security Administration, Department of Labor
Advisory Council on Employee Welfare and Pension Benefit Plans; Nominations for Vacancies
Document Number: E6-14111
Type: Notice
Date: 2006-08-25
Agency: Employee Benefits Security Administration, Department of Labor
Proposed Exemptions; Notice of Proposed Individual Exemption Involving the Plumbers & Pipefitters National Pension Fund (the Fund)
Document Number: E6-13623
Type: Notice
Date: 2006-08-21
Agency: Employee Benefits Security Administration, Department of Labor
This document contains notices of pendency before the Department of Labor (the Department) of proposed exemptions 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).
Grant of Individual Exemptions; The Southwest Gas Corporation (Southwest Gas)
Document Number: E6-13622
Type: Notice
Date: 2006-08-21
Agency: Employee Benefits Security Administration, Department of Labor
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 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.
Advisory Council on Employee Welfare and Pension Benefit Plans 134th Full Council Meeting; Notice of Meeting
Document Number: E6-12056
Type: Notice
Date: 2006-07-26
Agency: Employee Benefits Security Administration, Department of Labor
Proposed Exemptions; The Young Men's Christian Association Retirement Fund-Retirement Plan (the Plan)
Document Number: E6-11548
Type: Notice
Date: 2006-07-21
Agency: Employee Benefits Security Administration, Department of Labor
This document contains notices of pendency before the Department of Labor (the Department) of proposed exemptions from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (the Act) and/or the Internal Revenue Code of 1986 (the Code).
Electronic Filing of Annual Reports
Document Number: 06-6331
Type: Rule
Date: 2006-07-21
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a final rule establishing an electronic filing requirement for certain annual reports required to be filed with the Department of Labor by plan administrators and other entities. The Employee Retirement Income Security Act of 1974, as amended (ERISA), the Internal Revenue Code of 1986, as amended (Code), and the regulations issued thereunder impose certain annual reporting obligations on pension and welfare benefit plans, as well as on certain other entities. These annual reporting obligations generally are satisfied by filing the Form 5500 ``Annual Return/Report of Employee Benefit Plan,'' including any required schedules and attachments (Form 5500). Currently, the Department of Labor (Department), the Pension Benefit Guaranty Corporation, and the Internal Revenue Service (Agencies) use an automated document processing systemthe ERISA Filing Acceptance System (EFAST)to process the Form 5500 filings. As part of the Department's efforts to update and streamline the current processing system, the regulation contained in this document requires electronic filing of all annual reports filed with the Secretary of Labor (Secretary) for plan years beginning on or after January 1, 2008, to satisfy annual reporting obligations under Part 1 of Title I of ERISA. This regulation affects employee pension and welfare benefit plans, plan sponsors, administrators, and service providers to plans subject to Title I of ERISA.
Annual Reporting and Disclosure
Document Number: 06-6330
Type: Proposed Rule
Date: 2006-07-21
Agency: Employee Benefits Security Administration, Department of Labor
This document contains proposed amendments to Department of Labor (Department) regulations relating to annual reporting and disclosure requirements under Part 1 of Subtitle B of Title I of the Employee Retirement Income Security Act of 1974, as amended (ERISA or Act). The proposed amendments contained in this document are necessary to conform the annual reporting and disclosure regulations to proposed revisions to the Form 5500 Annual Return/Report of Employee Benefit Plan forms and instructions. The proposed changes to the Form 5500 and implementing regulatory amendments are intended to facilitate the transition to an electronic filing system, separately proposed at 70 FR 51542 (August 30, 2005), reduce and streamline annual reporting burdens, especially for small businesses, and update the annual reporting forms to reflect current issues and agency priorities. The regulatory amendments thus would, upon adoption, apply for the reporting year for which the electronic filing requirement is implemented. The proposed regulatory amendments will affect the financial and other information required to be reported and disclosed by employee benefit plans filing the Form 5500 Annual Return/Report of Employee Benefit Plan under Part 1 of Subtitle B of Title I of ERISA.
Proposed Revision of Annual Information Return/Reports
Document Number: 06-6329
Type: Notice
Date: 2006-07-21
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 contains proposed revisions to the Form 5500 Annual Return/Report forms, including a proposed new Short Form 5500, filed for employee pension and welfare benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code (Code). The Form 5500 Annual Return/Report, including its schedules and attachments (Form 5500 Annual Return/Report), is an important source of financial, funding, and other information about employee benefit plans for the Department of Labor, the Pension Benefit Guaranty Corporation, and the Internal Revenue Service (the Agencies), as well as for plan sponsors, participants and beneficiaries, and the general public. The proposed revisions to the Form 5500 Annual Return/ Report, contained in this document, including a new Form 5500-SF short form annual return/report for certain types of small pension plans, are intended to reduce and streamline annual reporting burdens, especially for small businesses, update the annual reporting forms to reflect current issues and agency priorities, and facilitate the establishment of a wholly electronic filing system for receipt of the Form 5500 Annual Returns/Reports. The form revisions thus would, upon adoption, apply for the reporting year for which the electronic filing requirement is implemented. The proposed revisions would affect employee pension and welfare benefit plans, plan sponsors, administrators, and service providers to plans subject to annual reporting requirements under ERISA and the Code.
Proposed Extension of Information Collection; Request for Public Comment Notice of Special Enrollment
Document Number: E6-11404
Type: Notice
Date: 2006-07-19
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (Department), as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)). This program helps to ensure that the data the Department gathers can be provided in the desired format, that the reporting burden on the public (time and financial resources) is minimized, that the public understands the Department's collection instruments, and that the Department can accurately assess the impact of collection requirements on respondents. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments concerning the extension of a currently approved collection of information arising from the Department's regulation at 29 CFR 2590.701-6, which requires a notice of special enrollment to be provided to employees who are offered an initial opportunity to enroll in a group health plan. A copy of the information collection request (ICR) can be obtained by contacting the office shown in the ADDRESSES section of this notice.
Proposed Extension of Information Collection; Request for Public Comment Establishing Prior Creditable Coverage
Document Number: E6-11403
Type: Notice
Date: 2006-07-19
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (Department), as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)((A)). This program helps to ensure that the data the Department gathers can be provided in the desired format, that the reporting burden on the public (time and financial resources) is minimized, that the public understands the Department's collection instruments, and that the Department can accurately assess the impact of collection requirements on respondents. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments concerning the extension of a currently approved collection of information arising from the Department's regulation at 29 CFR 2590.701-5, which requires group health plans and health insurance issuers to furnish a written certificate suitable for establishing prior creditable coverage to participants and dependents who are or were covered under the group health plan upon the occurrence of specified events. A copy of the information collection request (ICR) can be obtained by contacting the office shown in the ADDRESSES section of this notice.
Proposed Extension of Information Collection; Request for Public Comment Notice of Pre-Existing Condition Exclusion
Document Number: E6-11402
Type: Notice
Date: 2006-07-19
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (Department), as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)((A)). This program helps to ensure that the data the Department gathers can be provided in the desired format, that the reporting burden on the public (time and financial resources) is minimized, that the public understands the Department's collection instruments, and that the Department can accurately assess the impact of collection requirements on respondents. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments concerning the extension of currently approved collections of information arising from the Department's regulation at 29 CFR 2590.701-3, which requires group health plans and insurance issuers to provide certain notices regarding the pre-existing condition exclusions imposed under such plans to all participants under the plan and to specific individuals affected by the pre-existing condition exclusions. A copy of the information collection request (ICR) can be obtained by contacting the office shown in the ADDRESSES section of this notice.
Grant of Individual Exemptions; Harris Nesbitt Corporation (Harris Nesbitt)
Document Number: E6-8529
Type: Notice
Date: 2006-06-02
Agency: Employee Benefits Security Administration, Department of Labor
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 (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 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.
Proposed Exemptions; Retail Clerks Welfare Trust Health and Welfare Plan (the Plan)
Document Number: E6-8528
Type: Notice
Date: 2006-06-02
Agency: Employee Benefits Security Administration, Department of Labor
This document contains notices of pendency before the Department of Labor (the Department) of proposed exemptions from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (the Act) and/or the Internal Revenue Code of 1986 (the Code).
Availability of Partially Exclusive, Exclusive or Non Exclusive License
Document Number: Z6-7331
Type: Notice
Date: 2006-05-19
Agency: Department of Defense, Employee Benefits Security Administration, Department of Labor, Department of Energy, Federal Aviation Administration, Department of Transportation, Management and Budget Office, Department of the Army, Corps of Engineers, Engineers Corps, Army Department
Termination of Abandoned Individual Account Plans
Document Number: C6-3814
Type: Rule
Date: 2006-05-19
Agency: Employee Benefits Security Administration, Department of Labor
Technical Amendments to Appendices to Termination of Abandoned Individual Account Plans; Correction
Document Number: 06-4696
Type: Rule
Date: 2006-05-19
Agency: Employee Benefits Security Administration, Department of Labor
The Employee Benefits Security Administration published in the Federal Register of April 21, 2006, a notice containing final regulations under the Employee Retirement Income Security Act of 1974, as amended, that facilitate the termination of, and distribution of benefits from, individual account pension plans that have been abandoned by their sponsoring employers (71 FR 20820). Appendices to those regulations contain model notices that may be used to satisfy notification requirements under the regulations. A preparer of the model notices is required to check certain boxes, indicating whether or not certain events have occurred or exist. Inadvertently, the boxes did not appear in the published document. This correction adds the appropriate boxes and makes three unrelated typographical edits. This correction affects only Appendix B and Appendix C. Neither appendix is being changed substantively. The Federal Register and the Government Printing Office require publication of this correction. This correction is occurring on or before the effective date of Sec. 2578.1.
Intent to Prepare an Environmental Impact Statement for the Dam Safety Assurance Evaluation Report, Dover Dam, City of Dover, Tuscarawas County, OH
Document Number: C6-4234
Type: Notice
Date: 2006-05-11
Agency: Department of Defense, Employee Benefits Security Administration, Department of Labor, Environmental Protection Agency, Department of the Army, Corps of Engineers, Engineers Corps, Army Department
Voluntary Fiduciary Correction Program Under the Employee Retirement Income Security Act of 1974
Document Number: C6-3674
Type: Notice
Date: 2006-05-11
Agency: Employee Benefits Security Administration, Department of Labor
Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Class Exemptions for Multiple Employer Plans and Multiple Employer Apprenticeship Plans, PTE 76-1, PTE 77-10, PTE 78-6.
Document Number: E6-6397
Type: Notice
Date: 2006-04-28
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor, as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)). This program helps to ensure that the Department can properly assess the impact of its information collection requirements on respondents and minimize the reporting burden (time and financial resources) on the public and that the public can understand the Department's collection instruments and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration is soliciting comments concerning the information collections incorporated in three related prohibited transactions class exemptions (PTEs) that apply to certain transactions involving collectively bargained multiple employer plans. A copy of the information collection request (ICR) may be obtained by contacting the office listed in the Addresses section of this notice.
Proposed Exemptions; The Southwest Gas Corporation (Southwest Gas)
Document Number: E6-6356
Type: Notice
Date: 2006-04-28
Agency: Employee Benefits Security Administration, Department of Labor
This document contains notices of pendency before the Department of Labor (the Department) of proposed exemptions from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (the Act) and/or the Internal Revenue Code of 1986 (the Code).
Class Exemption for Services Provided in Connection With the Termination of Abandoned Individual Account Plans
Document Number: 06-3815
Type: Notice
Date: 2006-04-21
Agency: Employee Benefits Security Administration, Department of Labor
This document contains a final exemption from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA or the Act) and from certain taxes imposed by the Internal Revenue Code of 1986, as amended (the Code). The exemption permits a ``qualified termination administrator'' (QTA) of an individual account plan that has been abandoned by its sponsoring employer to select itself or an affiliate to provide services to the plan in connection with the termination of the plan, to pay itself or an affiliate fees for those services, and to pay itself for services provided prior to the plan's deemed termination. The exemption also permits a qualified termination administrator of an abandoned plan to: (1) Designate itself or an affiliate as the provider of an individual retirement plan or other account for the distribution of a participant or beneficiary who fails to make an election regarding the disposition of such benefits; (2) select a proprietary investment product as the initial investment for such plan or account; (3) provide a federally insured bank or savings association account for small distributions; and (4) pay itself or its affiliate fees in connection therewith. This exemption is being granted in connection with the Department's final regulation at 29 CFR 2578.1, relating to the Termination of Abandoned Individual Account Plans, the Department's final regulation at 29 CFR 2550.404a-3, relating to the Safe Harbor for Distributions From Terminated Individual Account Plans, and the Department's final regulation at 29 CFR 2520.103-13, relating to the Terminal Report for Abandoned Individual Account Plans, which are being published simultaneously in this issue of the Federal Register. The exemption will affect individual account plans, the participants and beneficiaries of such plans, certain plan service providers, and the fiduciaries of such plans.
Termination of Abandoned Individual Account Plans
Document Number: 06-3814
Type: Rule
Date: 2006-04-21
Agency: Employee Benefits Security Administration, Department of Labor
This document contains three final regulations under the Employee Retirement Income Security Act of 1974 (ERISA or the Act) that facilitate the termination of, and distribution of benefits from, individual account pension plans that have been abandoned by their sponsoring employers. The first regulation establishes a procedure for financial institutions holding the assets of an abandoned individual account plan to terminate the plan and distribute benefits to the plan's participants and beneficiaries, with limited liability. The second regulation provides a fiduciary safe harbor for making distributions from terminated plans on behalf of participants and beneficiaries who fail to make an election regarding a form of benefit distribution. The third regulation establishes a simplified method for filing a terminal report for abandoned individual account plans. Appendices to these rules contain model notices for use in connection therewith. These regulations will affect fiduciaries, plan service providers, and participants and beneficiaries of individual account pension plans.
Amendment to Prohibited Transaction Exemption 2002-51 (PTE 2002-51) to Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program
Document Number: 06-3675
Type: Notice
Date: 2006-04-19
Agency: Employee Benefits Security Administration, Department of Labor
This document amends PTE 2002-51 (67 FR 70623 November 25, 2002), a class exemption that provides relief from certain prohibited transaction restrictions imposed by section 4975 of the Internal Revenue Code of 1986 (the Code) for certain eligible transactions identified in the Department of Labor's (the Department) Voluntary Fiduciary Correction (VFC) Program, which was adopted on March 28, 2002. This amendment is being adopted in conjunction with the Department's adoption of the updated VFC Program (final VFC Program), which is being published simultaneously in this issue of the Federal Register. The VFC Program allows certain persons to avoid potential civil actions under the Employee Retirement Income Security Act of 1974 (ERISA) initiated by the Department and the assessment of civil penalties under section 502(l) or 502(i) of ERISA in connection with an investigation or civil action by the Department. The amendment affects plans, participants and beneficiaries of such plans and certain other persons engaging in such transactions.
Voluntary Fiduciary Correction Program Under the Employee Retirement Income Security Act of 1974
Document Number: 06-3674
Type: Notice
Date: 2006-04-19
Agency: Employee Benefits Security Administration, Department of Labor
This Notice includes an updated and streamlined version of the Voluntary Fiduciary Correction Program (VFC Program or the Program) under the Employee Retirement Income Security Act. The VFC Program is designed to encourage the voluntary correction of fiduciary violations by permitting persons to avoid potential civil actions and civil penalties if they take steps to correct identified violations in a manner consistent with the Program. The Program included in this Notice reflects changes made in response to public comments received on the VFC Program modifications implemented in April 2005. The final Program includes additional transactions, reduced documentation requirements, a simplified application form, a checklist, and availability of an online calculator for determining the amount to be restored to plans. These changes serve to both encourage and facilitate the use of the Program as a means by which to correct covered fiduciary violations.
Proposed Extension of Information Collection; Comment Request Prohibited Transaction Class Exemption 2004-07, Transactions With Trust REIT Shares
Document Number: E6-5569
Type: Notice
Date: 2006-04-14
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor (the Department), as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA 95) (44 U.S.C. 3506(c)(2)(A)). This helps to ensure that the Department can properly assess the impact of its information collection requirements on respondents and minimize the reporting burden (in both time and financial resources) on the public and that the public can clearly understand the Department's collection instruments and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the information collection provisions in Prohibited Transaction Class Exemption (PTE) 2004-07, which concerns publicly traded shares of beneficial interest in real estate investment trusts structured under State law as business trusts. A copy of the information collection request (ICR) may be obtained by contacting the office listed in the ADDRESSES section of this notice.
Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Class Exemption 94-20, Foreign Exchange Transactions
Document Number: E6-5568
Type: Notice
Date: 2006-04-14
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor, as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA 95). This program helps to ensure that the Department can properly assess the impact of its information collection requirements on respondents and minimize the reporting burden (time and financial resources) on the public and that the public can understand the Department's collection instruments and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collection provisions of Prohibited Transaction Class Exemption (PTE) 94-20, Foreign Exchange Transactions. A copy of the information collection request (ICR) may be obtained by contacting the office listed in the Addresses section of this notice.
Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Exemption 97-41, Collective Investment Funds Conversion Transactions
Document Number: E6-5567
Type: Notice
Date: 2006-04-14
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor, as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA 95). This program helps to ensure that the Department can properly assess the impact of its information collection requirements on respondents and minimize the reporting burden (in both time and financial resources) on the public and that the public can clearly understand the Department's information collection instruments and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the information collection provisions of Prohibited Transaction Class Exemption 97-41, Collective Investment Funds Conversion Transactions. A copy of the Information Collection Request (ICR) may be obtained by contacting the office listed in the Addresses section of this notice.
Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Class Exemption 90-1, Pooled Separate Accounts
Document Number: E6-5566
Type: Notice
Date: 2006-04-14
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor, as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA 95). This program helps to ensure that the Department can properly assess the impact of its information collection requirements on respondents and minimize the reporting burden (time and financial resources) on the public and that the public can understand the Department's collection instruments and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the information collection request (ICR) incorporated in Prohibited Transaction Class Exemption (PTE) 90-1, Pooled Separate Accounts. A copy of the ICR may be obtained by contacting the office listed in the ADDRESSES section of this notice.
Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Class Exemption 91-38, Bank Collective Investment Funds
Document Number: E6-5564
Type: Notice
Date: 2006-04-14
Agency: Employee Benefits Security Administration, Department of Labor
The Department of Labor, as part of its continuing effort to reduce paperwork and respondent burden, conducts a preclearance consultation program to provide the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information in accordance with the Paperwork Reduction Act of 1995 (PRA 95). This program helps to ensure that the Department can properly assess the impact of its information collection requirements on respondents and minimize the reporting burden (in both time and financial resources) on the public and that the public can clearly understand the Department's information collection instruments and can provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on a proposed extension of the information collection provisions of Prohibited Transaction Class Exemption (PTE) 91-38, Bank Collective Investment Funds. A copy of the Information Collection Request (ICR) can be obtained by contacting the office listed in the Addresses section of this notice.