87 FR 73822 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAFinal Rules (FR)Dec 1, 2022
…labor rate of $153.21 is used for a legal professional: (63,670 plans × 0.5 hour × $153.21 = $4,877,440).
Back to Citation
284. The per-plan burden is estimated as follows: $4,877,440/63,670 plans = $76.61, rounded to $77.
Back to Citation
285.
EBSA projected ERISA covered pension, welfare, and total assets based on …
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
ter
.
Description of the Proposed Revocation of PTE 75-1, Part I(b) and (c), and II(2), and Proposed Amendment to and Restatement of PTE 75-1, Part II Lastly, the Department proposes to revoke Part I(b) and I(c) of PTE 75-1, and Part II(2) of PTE 75-1. Part I(b) of PTE 75-1 provides relief from ERISA section 406 and th…
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
… futures commission merchants; persons acting pursuant to CFTC and SEC safe harbors under 17 CFR 23.440 and 240.15Fh-5, respectively, related to swaps and security-based swaps; screening of retirement investors for access to exchange traded funds and futures; compensation arrangements applicable to less liquid, alterna…
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
responsible for complying with this paragraph (a), will be subject to the civil penalty that may be assessed under ERISA section
( printed page 21206) 502(i) or the taxes imposed by Code section 4975(a) and (b), if applicable, if the records are not maintained or are not available for examination as required by paragra…
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…regarding their response to the 2016 Final Rule as of June 9, 2017, its initial applicability date.[440]
Of the member firms that participated in the study, nearly half reported that they maintained advice for all of their brokerage customers, while 29 percent limited advice and 24 percent eliminated advice. Firms that…
81 FR 21208 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 ERISAFinal Rules (FR)Apr 8, 2016related by meaning
tions.[3]
When fiduciaries violate ERISA's fiduciary duties or the prohibited transaction rules, they may be held personally liable for the breach.[4] In addition, violations of the prohibited transaction rules are subject to excise taxes under the Code.
The Code also has rules regarding fiduciary conduct with respect …
91 FR 46602 — Electronic Disclosure by Group Health Plans Under ERISA ERISAProposed Rules (FR)Proposed Jul 23, 2026
…50
participants
Plans with 75
participants
Plans with 100
participants
Plan Premiums by Size *
$139,440
$348,600
$697,200
$1,045,800
$1,394,400
Cost per Plan
$2.30
$5.30
$10.30
$15.30
$20.30
Total
0.0016%
0.0015%
0.0015%
0.0015%
0.0015%
* Plan Premiums are obtained by average annual premiums per covered participant $13…
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023
…rs
Activity
Burden hours
Equivalent
burden cost
Burden hours
Equivalent
burden cost
Legal
46,695
$7,440,454
46,695 $7,440,454
Senior Executive Staff
68,156
12,992,578
68,156
12,992,578
Total
114,851
20,433,032
114,851
20,433,032
( printed page 75998)
1.6 Costs Associated With Written Policies and Procedures
Under the o…
85 FR 31884 — Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA ERISAFinal Rules (FR)May 27, 2020
…ds; Business or other for-profit; Not-for-profit institutions.
Respondents:
710,000.
Responses:
109,440,000.
Estimated Total Burden Hours:
2,388,000.
Estimated Total Costs:
$44,737,000.
88 FR 76004 — Proposed Amendment to Prohibited Transaction Exemption 84-24 ERISAProposed Rules (FR)Proposed Nov 3, 2023related by meaning
cretionary Trust Services to the plan; or (3) both (1) and (2).
The Department also is proposing the following amendments.
Excluding Investment Advice The Department is proposing to exclude investment advice fiduciaries from relief for the transactions described in Section III(a) through (f) of current PTE 84-24. Inves…
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
rnishing of goods, services or facilities to a plan or IRA and (4) the transfer to or use by or for the benefit of a party in interest of plan assets. ERISA section 406(b) and Code section 4975(c)(1)(E) and (F) are aimed at fiduciaries only. These provisions generally prohibit a fiduciary from dealing with the income o…
87 FR 45204 — Proposed Amendment to Prohibited Transaction Class Exemption 84-14 (the QPAM Exemption) ERISAProposed Rules (FR)Proposed Jul 27, 2022
h the 2-digit 52, which corresponds to Finance and Insurance Institutions.[97]
There are about 234,440 small firms that report a NAICS code of 52.[98] The Department does not know how many QPAMs fit the SBA's small entity definition for the finance and insurance sector. However, if the Department assumes that all 616 p…
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.
75 FR 41600 — Reasonable Contract or Arrangement Under Section 408(b)(2)-Fee Disclosure ERISAFinal Rules (FR)Jul 16, 2010related by meaning
ans within the meaning of ERISA section 514 or as otherwise preempted by Title I of ERISA.
E. Application of Section 4975 of the Internal Revenue Code Code section 4975(d)(2) contains a provision that is parallel to ERISA section 408(b)(2). Several commenters questioned the interplay of the proposal and section 4975 of…
ERISARegulationsJan 1, 2017related by meaning
For 502(c)(8) civil penalty proceedings, this section shall apply in lieu of § 18.41 of this title.
ERISARegulationsJan 1, 2017related by meaning
For 502(c)(2) civil penalty proceedings, this section shall apply in lieu of § 18.10 of this title.
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
sation” within the contemplation of section 408(b)(2) and 408(c)(2) of ERISA and section 4975(d)(2) and 4975(d)(10) of the Code.
( printed page 32339) If such total is in excess of “reasonable compensation,” the “amount involved” for purposes of the civil penalties of section 502(i) of ERISA and the excise taxes impose…
75 FR 8796 — Civil Penalties Under ERISA Section 502(c)(8) ERISAFinal Rules (FR)Feb 26, 2010related by meaning
ch sets forth additional circumstances in which the Service will automatically approve a request to revoke a section 204 election.
Back to Citation
4. An excise tax under Code section 4971(g)(4) generally applies, in addition to any penalty under ERISA section 502(c)(8), in the case of a failure to adopt a rehabilitat…
ERISARegulationsJan 1, 2017related by meaning
For 502(c)(7) civil penalty proceedings, this section shall apply in lieu of § 18.41 of this title.
ERISARegulationsJan 1, 2017
…is incapacitated. For the period during which he is incapacitated, therefore, E receives credit for 440 hours of service (11 weeks multiplied by 40 hours per week) regardless of the fact that payments to E for the last 3 wseeks of the period during which hs was incapacitated were made in amounts less than E's normal co…