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
…tation
49.
See John Hancock Mut. Life Ins. Co.
v.
Harris Trust & Sa
v.
Bank,
510 U.S. 86, 97-101 (1993) (holding that “ERISA leaves room for complementary or dual federal or state regulation, and calls for federal supremacy when the two regimes cannot be harmonized or accommodated”).
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50.
See BancOk…
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
of the Code and a health savings account described in section 223(d) of the Code.
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19.
Code section 4975(c)(2).
Back to Citation
20. Angela A. Hung, Noreen Clancy, Jeff Dominitz, Eric Talley, Claude Berrebi, Farrukh Suvankulov, Investor and Industry Perspectives on Investment Advisers and Broker-Deal…
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
emption, the terms “party in interest,” “disqualified person” and “fiduciary” shall include such party in interest, disqualified
( printed page 76044) person, or fiduciary, and any affiliates thereof, and the term “affiliate” shall be defined in the same manner as that term is defined in 29 CFR 2510.3-21 and 26 CFR 54.…
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
dment is adopted, fiduciaries that exercise discretionary authority or control with respect to IRAs as described in Code section 4975(e)(3)(A) (
i.e., investment managers) will be required, among other things, to make the disclosures and receive approvals that are currently required by the exemption with respect to oth…
91 FR 16088 — Fiduciary Duties in Selecting Designated Investment Alternatives ERISAProposed Rules (FR)Proposed Mar 31, 2026
… two surveys' findings as a basis, the Department assumes the meeting frequency factors in Table 6.[199]
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
to Citation
11.
See
Preamble to PTE 75-1, Part V, 40 FR 50845 (Oct. 31, 1975); ERISA Advisory Opinion 86-12A (March 19, 1986).
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12. Because of this limitation, the Department views it as unnecessary to condition this exemption on the fiduciary's adherence to the impartial conduct standards, including…
80 FR 22035 — Proposed Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 ERISAProposed Rules (FR)Proposed Apr 20, 2015related by meaning
duciary is providing or other actions it is taking in relation to a plan's or IRA owner's investment decisions is deemed to be a misleading statement. For purposes of this section, a fiduciary acts in the “Best Interest” of the plan or IRA when the fiduciary acts with the care, skill, prudence, and diligence under the …
80 FR 22010 — Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 84-24 for Certain Transactions Involving Insurance Agents and B… ERISAProposed Rules (FR)Proposed Apr 20, 2015related by meaning
e authority of the Secretary of the Treasury to issue administrative exemptions under Code section 4975 to the Secretary of Labor.
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3. For purposes of this amendment, the terms “Individual Retirement Account” or “IRA” mean any trust, account or annuity described in Code section 4975(e)(1)(B) through (F…
91 FR 4348 — Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure ERISAProposed Rules (FR)Proposed Jan 30, 2026
…than doubled from 2011 to 2013, indicating a substantial increase after the final rule took effect.[199]
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
e exemptions pursuant to Code section 4975 was transferred to the Secretary of Labor.
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10.
Both terms are defined in a new section V. Back to Citation
11.
See
e.g.,
29 CFR 2520.102-2(c)(2) regarding summary plan descriptions.
Back to Citation
12.
See
2022 VFC Program proposed revisions, section D, “…
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
26 CFR 54.4975-9(c), which interprets Code section 4975(e)(3).
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6.
Cerulli Associates, “Retirement Markets 2015.”
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7. The Department initially proposed an amendment to its regulation defining a fiduciary within the meaning of ERISA section 3(21)(A)(ii) and Code section 4975(e)(3)(B) on…
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023related by meaning
….C. 601(2), 603(a);
see5 U.S.C. 551.
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67. Public Law 104-4, 109 Stat. 48 (Mar. 22, 1995).
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68.
Reorganization Plan No. 4 of 1978 (5 U.S.C. App. 1 (2018)) generally transferred the authority of the Secretary of the Treasury to grant administrative exemptions under Code section 4975 to t…
78 FR 13797 — Ex Parte Cease and Desist and Summary Seizure Orders-Multiple Employer Welfare Arrangements ERISAFinal Rules (FR)Mar 1, 2013
…vey.” The reported numbers are from Exhibit 1.2 and are for the category Annual, all Small Firms (3-199 workers).
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12.
77 FR 5632 — Reasonable Contract or Arrangement Under Section 408(b)(2)-Fee Disclosure ERISAFinal Rules (FR)Feb 3, 2012related by meaning
efinitions related to plans subject to the prohibited transaction and excise tax provisions in Code section 4975.
See
Code section 4975(e)(1) and (g). Back to Citation
37.
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
…ot subsequently deny their fiduciary status if a dispute arises, but rather must honor their words.[199]
The proposal also noted that in the retirement context, the Department has stressed the importance of clarity regarding the nature of an advice relationship and has encouraged retirement investors to ask advice prov…
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…e obligations, care obligations, periodic review and testing, and conflict of interest obligations.[199]
FINRA has identified similar deficiencies in its Report on Examination and Risk Monitoring Program.[200]
The SEC's Division of Examination notes that in response to deficiency letters identifying these issues, many …
ERISACourt RulingsJun 26, 2013
…ight to file a Reasonable Cause
Statement within thirty-five days of the date of the NOI. (CX 6, RX 199).
12. On A pril 6, 2009, HOE, through counsel, filed its Reasonable Cause Statement. The
statement was signed by Wade Pearson on behalf of the plan administrator. HOE
admitted it failed to file the IQPA report with i…
85 FR 82798 — Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees ERISAFinal Rules (FR)Dec 18, 2020
…ssionals was $169,000, whereas the average account balance of self-directed rollovers was $109,000.[199]
Some of these rollovers likely involved financial services professionals who were not fiduciaries under the Department's five-part investment advice fiduciary test; thus, the actual number of rollovers affected by t…
ERISACourt RulingsJul 19, 2011
…nnual Report.
The established facts are as follows:
• The 401(k) Plan held assets i n trust and had 199 pa r ticipants at the beginning of the plan year
and 184 participants at end of t he plan year.
USDOL/OALJ
R EPORTER P AGE 1
• Under ERISA and the implementing regulations, a pla n with 100 or more participants that
…
89 FR 43675 — Prohibited Transaction Exemption 2006-06 for Services Provided in Connection With the Termination of Abandoned Individual Account Plans ERISAFinal Rules (FR)May 17, 2024related by meaning
section 4975(c)(2) necessitate proposing an amendment to the exemption.
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26.
See 29 CFR 2578.1(d)(2)(v).
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27.
See Section I(a)(3) of this exemption amendment.
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28.
See
paragraph 29 CFR 2578.1(c)(3) of the QTA Regulation or in the case of a QTA described in Section …