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
tionary authority or control with respect to IRAs could continue to rely on PTE 86-128, as long as they comply with all of the exemption's conditions. The Department is also proposing certain technical changes to the exemption, including deleting subsection IV(b)(1), and redesignating remaining sections as needed. 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
ding PTE 86-128 by: (1) revising the exemption's “Recapture of Profits” exception; and (2) making certain technical corrections and editorial changes. The ERISA and Code provisions at issue generally prohibit fiduciaries with respect to employee benefit plans and IRAs from engaging in self-dealing in connection with tr…
81 FR 21208 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 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.
Exemptions from Prohibitions Respecting Certain Classes of Transactions Involving Employee Benefit Plans and Certain Broker-Dealers, Reporting Deal…
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…
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
nancial institution, an insurance company, or a broker-dealer.
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8.
Cerulli Associates, “Retirement Markets 2015.”
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9. 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…
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 …
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…
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 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
s) earned in connection with the transactions covered by the exemption.
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7.
67 FR 64137 (October 17, 2002).
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8.
See Advisory Opinion 2011-08A (June 21, 2011).
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9.
This proposal would move the definitions from Section I to Section VII. The other sections are re-ordered…
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, 2016related by meaning
ption.
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60.
See, e.g.,
PTE 75-1, Part II, 40 FR 50845 (Oct. 31, 1975), as amended at 71 FR 5883 (Feb. 3, 2006).
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61. 29 CFR 2570.31(j).
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62.
The same commenter also requested clarification that an IRA owner will not be deemed to fail the Independence requirement simpl…
85 FR 82798 — Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees ERISAFinal Rules (FR)Dec 18, 2020related by meaning
n
136.
See
Reorganization Plan No. 4 of 1978 and discussion
supra.
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137.
29 CFR 2550.408b-2(c)(1)(vii).
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138.
See PTE 84-14, Class Exemption for Plan Asset Transactions Determined by Independent Qualified Professional Asset Managers, 49 FR 9494 (Mar. 13, 1984) as corrected at 50 FR …
88 FR 76004 — Proposed Amendment to Prohibited Transaction Exemption 84-24 ERISAProposed Rules (FR)Proposed Nov 3, 2023related by meaning
e authority of the Secretary of the Treasury to grant administrative exemptions under Code section 4975 to the Secretary of Labor.
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2. As defined in Section X(d), the term “Individual Retirement Account” or “IRA” means any plan that is an account or annuity described in Code section 4975(e)(1)(B) throu…
81 FR 20946 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice ERISAFinal Rules (FR)Apr 8, 2016related by meaning
-21(d).
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48.
Reorganization Plan No. 4 of 1978 (5 U.S.C. App. (2000)).
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49.
Id. at section 102.
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50. Reorganization Plan, Message of the President.
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51.
See, e.g., Public Citizen
v.
Dep't of Health and Human Servs.,
332 F.3d 654, 668 (2003) (the ratif…
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
on of this notice. Written comments and recommendations for the information collection should be sent to
https://www.reginfo.gov/public/do/PRAMain. Find this particular information collection by selecting “Currently under 30-day Review—Open for Public Comments” or by using the search function.
As discussed in detail…
75 FR 53172 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans ERISAProposed Rules (FR)Proposed Aug 30, 2010related by meaning
he same investment manager, and the execution of certain foreign exchange transactions between a plan and a bank or broker-dealer.
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3. Additional information concerning the requirements for obtaining administrative relief under PTE 96-62 (as amended) may be obtained by accessing the complete text of th…
82 FR 12319 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice; Best Interest Contract Exemption (Prohibited Transaction Exemption … ERISAProposed Rules (FR)Proposed Mar 2, 2017related by meaning
9, 21145. The Department concluded that the ICRs contained in the amendments to Part V impose no additional burden on respondents.
Amended PTE 86-128: The information collections in Amended PTE 86-128 are approved under OMB Control Number 1210-0059. As amended, Section III of the exemption requires Financial Institutio…
89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
Document Headings
Document headings vary by document type but may contain
the following:
the agency or agencies that issued and signed a document
the number of the CFR title and the number of each part
the document amends, proposes to amend, or is directly
related to
the agency docket number / agency internal file numb…
80 FR 21989 — Proposed Class Exemption for Principal Transactions in Certain Debt Securities between Investment Advice Fiduciaries and Employee Benefit Plans and IRAs ERISAProposed Rules (FR)Proposed Apr 20, 2015related by meaning
certain transactions between a plan and a “party in interest.”
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5.
ERISA section 409;
see also
ERISA section 405.
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6. The Department of Treasury issued a virtually identical regulation, at 26 CFR 54.4975-9(c), which interprets Code section 4975(e)(3).
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7.
Advisory Opin…
82 FR 16902 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice; Best Interest Contract Exemption (Prohibited Transaction Exemption … ERISAFinal Rules (FR)Apr 7, 2017related by meaning
984), as corrected 49 FR 24819 (June 15, 1984), as amended 71 FR 5887 (Feb. 3, 2006), and as amended 81 FR 21147 (April 8, 2016).
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30. The term “Fixed Rate Annuity Contract” is defined in Section VI(k) of the amended exemption.
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31.
See 81 FR 21176 (Apr. 8, 2016), PTE 84-24 Section VI(…