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…
81 FR 43430 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Catch-Up Adjustments ERISAFinal Rules (FR)Jul 1, 2016
$110 penalty amount plus the $165 statutory cap).
c. Section 702.271—Discrimination; Against Employees Who Bring Proceedings, Prohibition and Penalty Existing § 702.271(a)(1) provides that no employer or its agent may discharge or in any manner discriminate against an employee as to his or her employment because that …
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
…t and an empty head are not enough.' ”).
Back to Citation
40.
Donovan
v.
Bierwirth,
680 F.2d 263, 271 (2d Cir. 1982) (“the decisions [of the fiduciary] must be made with an eye single to the interests of the participants and beneficiaries”);
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
upremacy when the two regimes cannot be harmonized or accommodated”).
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50.
See BancOklahoma Mortg. Corp.
v.
Capital Title Co., Inc., 194 F.3d 1089 (10th Cir. 1999) (stating that McCarran-Ferguson Act bars the application of a federal statute only if (1) the federal statute does not specifically relate…
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…rest—Retirement Investment Advice Regulatory Impact Analysis for Final Rule and Exemptions,
pp. 268-271, (April 2016),
https://www.dol.gov/sites/dolgov/files/EBSA/laws-and-regulations/rules-and-regulations/completed-rulemaking/1210-AB32-2/ria.pdf.
Back to Citation
235.
Employee Benefits Security Administratio…
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
…the number of plans that would be affected by the proposed amendments to the rule and related PTEs.[271]
When this rule was first proposed, the Bulletin was undergoing internal departmental clearances for publication. The Bulletin was subsequently published online [272]
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
ten notice to the requester advising it of the reasons for the refusal and that the Department may request such information on the requester's behalf. The Department requests comment regarding whether fiduciaries providing discretionary investment management services on the purchase or sale of a mutual fund security in…
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 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…
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
75(e)(1) of the Code are included within the scope of relief provided by PTE 75-1 because it was issued jointly by the Department and the Service.
See PTE 2002-13, 67 FR 9483 (March 1, 2002) (preamble discussion). For simplicity and consistency with the other new exemptions and amendments to other existing exemptions p…
91 FR 4348 — Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure ERISAProposed Rules (FR)Proposed Jan 30, 2026
…lower the average net retail price of prescription drugs, approximately 0.1 percent to 1.0 percent.[271]
Data from IQVIA indicates that expenditures for all prescription drugs from patients and issuers, less any rebates, totaled approximately $667.0 billion in 2022.[272]
The Department estimates that level-funded and s…
84 FR 213 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2019 ERISAFinal Rules (FR)Jan 23, 2019
…0, 15 FR 3174, 64 Stat. 1263; Secretary's Order 10-2009, 74 FR 58834.
§ § 702.204, 702.236, and 702.271
[Amended]
4. In the following table, for each paragraph indicated in the left column, remove the dollar amount or date indicated in the middle column from wherever it appears in the section or paragraph and add in it…
82 FR 5373 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2017 ERISAFinal Rules (FR)Jan 18, 2017
…50, 15 FR 3174, 64 Stat. 1263; Secretary's Order 10-2009, 74 FR 58834.
§§ 702.204, 702.236, and 702.271
[Amended]
4. In the table below, for each paragraph indicated in the left column, remove the dollar amount or date indicated in the middle column from wherever it appears in the paragraph and add in its place the dol…
87 FR 73822 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAFinal Rules (FR)Dec 1, 2022
…SG standards, or that it is helpful in creating superior financial performance at investee firms.” [271]
85 FR 2292 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2020 ERISAFinal Rules (FR)Jan 15, 2020
…0, 15 FR 3174, 64 Stat. 1263; Secretary's Order 10-2009, 74 FR 58834.
§ § 702.204, 702.236, and 702.271
[Amended]
4. In the following table, for each paragraph indicated in the left column, remove the dollar amount or date indicated in the middle column from wherever it appears in the section or paragraph and add in it…
85 FR 72846 — Financial Factors in Selecting Plan Investments ERISAFinal Rules (FR)Nov 13, 2020
…
485 F. Supp. 629, 639 (W.D. Wis. 1979)).
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2.
Donovan
v.
Bierwirth,
680 F.2d 263, 271 (2d Cir. 1982).
Back to Citation
3.
Fifth Third Bancorp
v.
Dudenhoeffer,
81 FR 21208 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 ERISAFinal Rules (FR)Apr 8, 2016★ strong match
Code.
B. Sections III(f) and III(g) are redesignated, respectively, as sections III(g) and III(h).
II. Prohibited Transaction Exemption 75-1, Part IV The Department amends Prohibited Transaction Exemption 75-1, Part IV, under the authority of ERISA section 408(a) and Code section 4975(c)(2), and in accordance with the…
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…
ERISACourt RulingsAug 25, 1995
…1226, 1231 (9th Cir. 1983), cert.
denied, 464 U.S. 1040 (1984); Donovan v. Bierwirth,
680 F.2d 263; 271 (2d Cir. 1982), cert. denied, 459
U.S. 1069 (1982).
In particular, ERISA § 406, 29 U.S.C. § 1106,
expressly prohibits certain types of transactions between an
employee benefit plan and a party-in-interest with respec…
ERISARegulationsJan 1, 2017related by meaning
For prohibited transaction penalty proceedings, this section shall apply in lieu of § 18.10 of this title.