81 FR 21181 — Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit Plans and Broker-De… ERISAFinal Rules (FR)Apr 8, 2016related by meaning
tion.
Back to Citation
14.
67 FR 64137 (October 17, 2002).
Back to Citation
15.
See
Advisory Opinion 2011-08A (June 21, 2011).
Back to Citation
16. As noted above, for purposes of this amendment, the terms “Individual Retirement Account” or “IRA” mean any account or annuity described in Code section 4975(e)(1)(B) t…
ERISADOL Technical ReleasesJul 25, 2023
…sed 26 CFR 54.9812-1(c)(4)(i) or (c)(4)(ii), 29 CFR 2590.712(c)(4)(i) or (c)(4)(ii), and 45 CFR 146.136(c)(4)(i) or (c)(4)(ii). Further, under the proposed rules, if finalized, the plan or issuer would be required to:Take reasonable action to address the material differences in access as necessary to ensure compliance,…
80 FR 22021 — Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit P… ERISAProposed Rules (FR)Proposed Apr 20, 2015related by meaning
tes) and any related entity in connection with the transaction is reasonable in relation to the total services the person provides to the plan or IRA. The Department requests comment on the necessity of incorporating relief for related entities in PTE 86-128, and the approach taken in this proposal to do so.
V. The 200…
89 FR 32346 — Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
this provision undermines the careful balance of labor relations in this country and argued that it is preempted by the National Labor Relations Act. After consideration of the comments, the Department has deleted the proposed recordkeeping requirements applicable to Section VII of PTE 86-128. However, as with PTE 202…
81 FR 21147 — Amendment to and Partial Revocation of Prohibited Transaction Exemption (PTE) 84-24 for Certain Transactions Involving Insurance Agents and Brokers, Pension Co… ERISAFinal Rules (FR)Apr 8, 2016related by meaning
tion
45.
15 U.S.C. 80b-11(g)(1).
Back to Citation
46.
See e.g., Fish
v.
GreatBanc Trust Company,
749 F.3d 671 (7th Cir. 2014).
Back to Citation
47. As a practical matter, one way for financial institutions to ensure that they can meet this burden is by implementing strong anti-conflict policies and procedures, and …
91 FR 4348 — Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure ERISAProposed Rules (FR)Proposed Jan 30, 2026
…rescription drug costs.
B. Background 1. Group Health Plan Prescription Drug Coverage
Approximately 136 million Americans receive health coverage through their employers (or their family members' employers) in group health plans covered by ERISA.[9]
Group health plans provide healthcare benefits such as hospitalization…
89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024★ strong match
… prepare the statement. This results in an hour burden of 9,474 hours with an equivalent cost of $1,569,868.[78]
Table 3—Hour Burden and Equivalent Cost Associated With the Statement of the Care and Loyalty Obligation
Activity
Year 1
Subsequent years
Burden hours
Equivalent burden cost
Burden hours
Equivalent burden co…
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
…closures is estimated as: (44,593,228 plan participants receiving investment advice × 3.9%) ≉ 1,739,136 paper disclosures.
Back to Citation
699.
The cost is estimated as: (1,739,136 paper disclosures × 2 pages) × $0.05 ≉ $173,914.
Back to Citation
700.
This is estimated as: 67,781,000 IRA owners × 28.2% ≉ 19,114,242 …
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…478
478
478
478
Disclosure:
Total
249,624
1,016,368
1,129,414
28,559
2,414
224,469
4,827
Per-Entity
136
136
136
189
241
241
241
Rollover Disclosure:
Total
18,804,898
76,572,316
85,088,322
1,547,433
102,479
9,530,548
204,958
Per-Entity
2
2
2
2
2
2
2
Policies and Procedures:
Total
146,328
595,837
662,103
12,041
3,453
321…
84 FR 213 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2019 ERISAFinal Rules (FR)Jan 23, 2019
…3.
§ 726.302(c)(2)(i) table
278
285.
§ 726.302(c)(2)(i) table
417
428.
§ 726.302(c)(2)(i) table
555
569.
85 FR 40589 — Conflict of Interest Rule-Retirement Investment Advice: Notice of Court Vacatur ERISAFinal Rules (FR)Jul 7, 2020related by meaning
aries, a related class exemption proposal that was not finalized.[3]
EBSA's website will reflect all of these changes.[4]
Procedural and Other Matters Section 553 of the Administrative Procedure Act, 5 U.S.C. 553(b)(3)(B), provides that when an agency for good cause finds that notice and public procedures are impractic…
85 FR 2292 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2020 ERISAFinal Rules (FR)Jan 15, 2020
…
$146.
§ 726.302(c)(2)(i) table
285
290.
§ 726.302(c)(2)(i) table
428
436.
§ 726.302(c)(2)(i) table
569
88 FR 76032 — Proposed Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128 ERISAProposed Rules (FR)Proposed Nov 3, 2023related by meaning
b)(1), the Department is redesignating subsections IV(b)(2) and (3) as subsections IV(a)(1) and (2), respectively, and Section IV(c) as Section IV(b). The Department is proposing to revise the new Section IV(b) to read: “Recapture of profits. Sections III(a) and III(i) of this exemption do not apply in cases where the …
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
75150 (Oct. 28, 2016); PTE 2016-10, 81 FR 75147 (Oct. 28, 2016); PTE 2012-08, 77 FR 19344 (March 30, 2012); PTE 2004-13, 69 FR 54812 (Sept. 10, 2004). Back to Citation
38.
On December 12, 2018, Korea's Seoul High Court for the 7th Criminal Division (the Seoul High Court) reversed the Korean Court's decision and declar…
ERISAFinal Rules (FR)May 17, 2024
…d the options available for distribution of their account balances. The Department estimates that 1,136,306 participants and beneficiaries will receive notices from 24,897 plan sponsors. The Department estimates that a benefits manager will spend approximately 10 minutes per plan preparing the notices. This results in …
91 FR 9213 — Requirement To Provide Paper Statements in Certain Cases-Amendments to Electronic Disclosure Safe Harbors ERISAProposed Rules (FR)Proposed Feb 25, 2026
…$40,736,877
$64,829,163
$0
$32,414,582
Total Costs in Year 1
$133,931,975
$154,823,812
$79,988,274
$136,783,396
Total Costs in Year 2
$40,736,877
$64,829,163
$0
$32,414,582
( printed page 9228)
Transfers
Total Transfers (Annual)
$451,779
$719,220
$0
$359,610
1
Years 1 and 2 are presented to show the effects of differe…
78 FR 13797 — Ex Parte Cease and Desist and Summary Seizure Orders-Multiple Employer Welfare Arrangements ERISAFinal Rules (FR)Mar 1, 2013related by meaning
ministration and other fiduciary activities, and not to communications made or documents prepared to aid the fiduciary personally or for settlor acts. See Solis
v.
The Food Employers Labor Relations Ass'n,
644 F.3d 221 (4th Cir. 2011). This provision should not be
( printed page 13802)
interpreted as excluding consider…
90 FR 3667 — Prohibited Transaction Exemption (PTE) 2002-51 To Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program ERISAFinal Rules (FR)Jan 15, 2025related by meaning
mpliance aid, the Department is making the model notice available on its website in twelve non-English languages.
Notice Exception for Self-Correctors In light of the streamlined procedure for self-correction and the SCC's limitation to corrections when the amount of lost earnings is $1,000 or less, the proposed exempt…
85 FR 82798 — Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees ERISAFinal Rules (FR)Dec 18, 2020
… of the business. This results in an hour burden of 7,032 [251]
and an equivalent cost burden of $2,569,337.[252]
Financial Institutions that already produce retrospective review reports voluntarily or in accordance with other regulators' rules likely will spend additional time to fully comply with this exemption condi…
82 FR 57664 — 18-Month Extension of Transition Period and Delay of Applicability Dates; Best Interest Contract Exemption (PTE 2016-01); Class Exemption for Principal Transac… ERISAFinal Rules (FR)Dec 7, 2017related by meaning
, correct footnote 66 to read “
See, e.g.,
Comment Letter #121 (HSBC North America Holdings Inc.); Comment Letter #124 (Morgan, Lewis & Bockius LLP).” 2. On page 56559, second column, add the following language to the end of Congressional Review Act discussion: “Although the CRA generally requires that major rules beco…