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
able solely to the proposed new covered transaction. The proposed new Section IV incorporates conditions currently applicable to PTE 75-1, Part II(2). Specifically, the conditions applicable to the proposed new covered transaction in Section I(b), as set forth in proposed Section IV, are: (1) The fiduciary customarily …
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).
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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 …
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.
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14.
67 FR 64137 (October 17, 2002).
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15.
See
Advisory Opinion 2011-08A (June 21, 2011).
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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…
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
The proposed amendment to PTE 2002-51, if granted, would not extend to
( printed page 70757)
transactions prohibited under Code section 4975(c)(1)(F). (3) Before the proposed amendment is granted under Code section 4975(c)(2), the Department must find that the amendment is administratively feasible, in the interests of…
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
nancial circumstances and needs of the plan or IRA, without regard to the financial or other interests of the fiduciary, any affiliate or other party. (c) The term “control” means the power to exercise a controlling influence over the management or policies of a person other than an individual.
(d) The terms “Individua…
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”).
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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…
91 FR 16088 — Fiduciary Duties in Selecting Designated Investment Alternatives ERISAProposed Rules (FR)Proposed Mar 31, 2026
…e 16092)
an ERISA fiduciary will implicate difficult tradeoffs.”
Hughes
v.
Northwestern University, 595 U.S. 170, 177 (2022). And, as discussed above, a fiduciary must act based on “the circumstances as they reasonably appear to [the fiduciary] at the time when he does act and not at some subsequent time when his condu…
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…
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
ble, in the interests of plans and their participants and beneficiaries, and protective of the rights of participants and beneficiaries of such plans. (4) The exemption, as amended, is supplemental to, and not in derogation of other provisions of ERISA and the Code, including statutory or administrative exemptions and …
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
…0s, which tended to have more generous benefits, particularly regarding minimum benefit guarantees.[595]
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…are estimated to be small insurance companies and 32 are estimated to be large insurance companies.[595]
Additionally, 54 percent (215 insurance companies) sell annuities through independent distribution channels, of which 177 are estimated to be small insurance companies and the remaining 38 are large insurance compan…
81 FR 21089 — Class Exemption for Principal Transactions in Certain Assets Between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs ERISAFinal Rules (FR)Apr 8, 2016★ strong match
…on-conflicted advice from their fiduciary service providers. The 2013 Form 5500 filings show nearly 595,000 ERISA covered retirement plans with less than 100 participants.
81 FR 20946 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice ERISAFinal Rules (FR)Apr 8, 2016★ strong match
…on-conflicted advice from their fiduciary service providers. The 2013 Form 5500 filings show nearly 595,000 ERISA covered retirement plans with less than 100 participants.
( printed page 20994)
ERISACourt RulingsAug 17, 2026
…ve yielded, would not (or could not)
have made the same choice.” Id. ( quoting Hughes v. Nw. Univ., 595
U.S. 170, 177 (2022) ).
ERISA plaintiffs often rely on compar isons to demonstrate
objective imprudence by presenting evidence that a challenged investment was inferior to an alternative that a fiduciary could have
c…
91 FR 46602 — Electronic Disclosure by Group Health Plans Under ERISA ERISAProposed Rules (FR)Proposed Jul 23, 2026
…usinesses or other for-profits, Not-for-profit institutions.
Respondents:
10,909,076.
Responses:
31,595,244.
Estimated Total Burden Hours:
263,294.
Estimated Total Costs:
$5,480,827.
Description:
ERISAFinal Rules (FR)Apr 8, 2016
…on-conflicted advice from their fiduciary service providers. The 2013 Form 5500 filings show nearly 595,000 ERISA covered retirement plans with less than 100 participants.
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
011).
I. PTE 75-1, Part I,
Agency transactions and services,
subparts (b) and (c), are revoked in their entirety.
II. Part II,
Principal transactions, the first sentence of subpart (2) is revoked; the sentence beginning “The exemptions set forth in (1) and (2) is designated as Part II(2) and amended to read, “The exemp…
80 FR 21960 — Proposed Best Interest Contract Exemption ERISAProposed Rules (FR)Proposed Apr 20, 2015★ strong match
…s in the first year and 20,000 hours in subsequent years at an equivalent cost of $7.4 million and $595,000 respectively. If, as seems likely, many financial institutions choose not to limit the universe of investment recommendations, we would expect the actual costs to be substantially smaller.
Finally, the Department…
87 FR 73822 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAFinal Rules (FR)Dec 1, 2022
…le H would report a separate line item for stock holdings. The small plans filing the Form 5500-SF (595,565) or file schedule I (52,737) do not report stock as a separate line item, therefore these plans cannot be identified as to whether they hold common stock.
Back to Citation
307.
Many small plans have exposure to …
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.
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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…