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
atio = 1.47 × (1,400,000/10,509,091) = 0.196 = 19.6 percent.
Proposed Revocation of Parts I(b), I(c) and II(2) of PTE 75-1 and Restatement of PTE 75-1 The Department is proposing to revoke Parts I(b), I(c) and II(2) of PTE 75-1. In connection with the proposed revocation of Part II(2), the Department is republishing Pa…
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…
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…
20,078,016
81,756,286
90,848,839
1,660,214
119,169
11,082,746
238,339
Per-Entity
696
696
696
749
1,671
1,671
1,671
SBA:
Threshold (in millions)
87 FR 70753 — Prohibited Transaction Exemption (PTE) 2002-51 To Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program ERISAProposed Rules (FR)Proposed Nov 21, 2022related by meaning
e relief provided by the VFC Program and the exemption for a similar type of transaction(s) during three years before the current VFCP application.[8] The applicant must provide notice to interested persons of the transaction for which relief is sought within 60 days of the VFC Program submission. However, notice is no…
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, 2016★ strong match
… 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 by refrai…
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, 2016★ strong match
… 15 U.S.C. 80b-11(g)(1).
Back to Citation
32.
See e.g., Fish
v.
GreatBanc Trust Company,
749 F.3d 671 (7th Cir. 2014).
Back to Citation
33.
See
Regulatory Impact Analysis, available at
www.dol.gov/ebsa.
Back to Citation
34.
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
…ales agent. The labor rate is applied in the following calculation: 4,061 burden hours × $165.29 ≉ $671,212. The mailing cost is estimated as: (24,365 requests × 28.2% receiving disclosures via mail) ≉ 6,871 rollovers resulting in a paper disclosure × [$0.68 postage + ($0.05 per page × 2 pages)] + (2 minutes ÷ 60 minut…
89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
ns
were made negligently or intentionally.”) (emphasis added);
see Mathews
v.
Chevron Corp.,
362 F.3d 1172, 1183 (9th Cir. 2004).
Back to Citation
37. 84 FR 33348, note 303. The Department observes that this requirement is also consistent with, for example, the requirement under section 206 of the Advisers Act, which …
81 FR 21139 — Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Employee Be… ERISAFinal Rules (FR)Apr 8, 2016related by meaning
under section 4975 of the Code] is hereby transferred to the Secretary of Labor”).
Back to Citation
9.
29 CFR 2550.408b-2(e); 26 CFR 54.4975-6(a)(5). Back to Citation
10.
See
PTE 86-128, Exemption for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers, 51 FR 41686 (November 18, 1986), as ame…
80 FR 22004 — Proposed Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Em… ERISAProposed Rules (FR)Proposed Apr 20, 2015related by meaning
on, at 26 CFR 54.4975-9(c), which interprets Code section 4975(e)(3).
Back to Citation
6.
Advisory Opinion 76-65A (June 7, 1976).
Back to Citation
7. The Department initially proposed an amendment to its regulation under ERISA section 3(21)(A)(ii) and Code section 4975(e)(3)(B) on October 22, 2010, at 75 FR 65263. It…
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
, including as part of a comment responding to the broader proposal. Comments are due by January 2, 2024 to ensure their consideration.
PRA Addressee: Address requests for copies of the ICR to James Butikofer, Office of Research and Analysis, U.S. Department of Labor, Employee Benefits Security Administration, 200 Cons…
ERISARegulationsJan 1, 2017related by meaning
For 502(c)(8) civil penalty proceedings, this section shall apply in lieu of § 18.10 of this title.
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
nd in its text, PTE 2020-02 has been broadly amended to encompass compensation for advice irrespective of the product recommended.
Back to Citation
6. ERISA section 408(a) and Code section 4975(c)(2), expressly permit the Department (through the Reorganization Plan No. 4 of 1978) to grant “a conditional or uncondition…
ERISAFinal Rules (FR)May 17, 2024
…lerical staff time with an equivalent cost burden of $79,503 (1,253 hours × $63.45 per hour), and 1,671 hours (2,506 plans × 40 minutes) of an accountant's time with an equivalent cost burden of $195,234 (1,671 hours × $116.86 per hour) for a total estimated equivalent cost burden of $274,737. Based upon recent filing …
91 FR 4348 — Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure ERISAProposed Rules (FR)Proposed Jan 30, 2026
…ach year to account for projected earnings growth. This results in an average value of QALY of $351,671 over the 10 years observed.
Back to Citation
310.
The undiscounted benefits related to QALY improvements result in an average annual value of approximately $421.7 million. The benefits related to QALY improvements, …
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…
ERISAFinal Rules (FR)Apr 8, 2016
…ion E. of this preamble.
Back to Citation
60.
See e.g., Fish
v.
GreatBanc Trust Company,
749 F.3d 671 (7th Cir. 2014).
Back to Citation
61.
See
Regulatory Impact Analysis.
Back to Citation
62.
See
Section III(b)(1)(iv) of the exemption.
ERISADOL Technical ReleasesMar 18, 2011
…ervice/Home.aspx
GuamGuam Department of Revenue and Taxation
1240 Army Drive
Barrigada, Guam 96921
(671) 635-1844
HawaiiNo program
IdahoNo program
IllinoisIllinois Department of Insurance
100 Randolph St, 9th Floor
Chicago, IL 60601
(877) 527-9431, or
Illinois Department of Insurance
320 W. Washington St, 4th Floor
Spr…
ERISARegulationsJan 1, 2017related by meaning
For 502(c)(6) civil penalty proceedings, this section shall apply in lieu of § 18.10 of this title.
81 FR 21208 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 ERISAFinal Rules (FR)Apr 8, 2016★ strong match
…c. 913(b)(1) and (c)(1).
Back to Citation
29.
See e.g., Fish
v.
GreatBanc Trust Company,
749 F.3d 671 (7th Cir. 2014).
Back to Citation
30.
See
Fiduciary Investment Advice Final Rule Regulatory Impact Analysis.
Back to Citation
31.
As noted above, some of the amended exemptions' Best Interest definitions do not in…