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
atio = 1.47 × (1,400,000/10,509,091) = 0.196 = 19.6 percent.
Proposed Revocation of Parts I(b), I(c) and II(2) of PTE 75-1 and Restatement of PTE 75-1 The Department is proposing to revoke Parts I(b), I(c) and II(2) of PTE 75-1. In connection with the proposed revocation of Part II(2), the Department is republishing Pa…
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…
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).
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20. Angela A. Hung, Noreen Clancy, Jeff Dominitz, Eric Talley, Claude Berrebi, Farrukh Suvankulov, Investor and Industry Perspectives on Investment Advisers and Broker-Deal…
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
…the Relationship and Conflict of Interest disclosure + $41,322,500 for the rollover disclosure) + ($776,863 to prepare and send disclosures + $145,230 for material and postage costs) + ($1,455,103 for additional compensation disclosure preparation + $10,998 for materials and postage) = $88,115,522.The cost in subsequen…
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…
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
ent advice, as defined under ERISA and in a proposed regulation issued by the Department that is found elsewhere in this issue of the
Federal Register , from the covered transactions in each exemption and make certain other administrative changes. The Department is proposing these amendments on its own motion, pursuant…
89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
ns
were made negligently or intentionally.”) (emphasis added);
see Mathews
v.
Chevron Corp.,
362 F.3d 1172, 1183 (9th Cir. 2004).
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37. 84 FR 33348, note 303. The Department observes that this requirement is also consistent with, for example, the requirement under section 206 of the Advisers Act, which …
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 46602 — Electronic Disclosure by Group Health Plans Under ERISA ERISAProposed Rules (FR)Proposed Jul 23, 2026
…-profit institutions.
Respondents:
7,156,384.
Responses:
223,433,165.
Estimated Total Burden Hours:
776,430.
Estimated Total Costs:
$18,634,326.
Description:
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
on, at 26 CFR 54.4975-9(c), which interprets Code section 4975(e)(3).
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6.
Advisory Opinion 76-65A (June 7, 1976).
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7. The Department initially proposed an amendment to its regulation under ERISA section 3(21)(A)(ii) and Code section 4975(e)(3)(B) on October 22, 2010, at 75 FR 65263. It…
79 FR 13949 — Amendment Relating to Reasonable Contract or Arrangement Under Section 408(b)(2)-Fee Disclosure ERISAProposed Rules (FR)Proposed Mar 12, 2014
…ual funds, closed-end funds, exchange traded funds, and unit investment trusts.[14]
There also were 776 financial service firms that provided investment management services in the U.S. Seventy-six percent of these firms were independent fund advisors and the rest were brokerage firms, banks and thrifts, insurance compa…
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
act me if you have any questions at [Insert Telephone Number of a Person Employed by the Applicant Who Is Knowledgeable About this Matter].
Sincerely, [Insert Name and Title of Person Employed by the Applicant]
Footnotes
1.
See
2022 Program Notice, Section D, “Regulatory Impact Analysis.”
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2.
5 U.S.C…
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…35 broker-dealers × 10%) + (15,775 registered investment advisers × 10%) + (151 insurers × 10%) = 1,776 financial institutions updating existing disclosures. The number of financial entities needing to draft their written acknowledgement is estimated as: (10 robo-advisers + 930 pension consultants + 20 investment compa…
89 FR 5624 — Automatic Portability Transaction Regulations ERISAProposed Rules (FR)Proposed Jan 29, 2024
…3,410
1,019,581
1,025,752
1,028,837
1,031,923
1,031,923
10,084,732
Accounts with AP
620,611
702,996
776,020
825,936
851,264
876,840
902,662
915,665
928,731
928,731
8,329,456
AP Transfers
397,749
519,606
630,585
699,159
724,418
766,494
809,360
817,864
839,779
824,156
7,029,170
Differences between the Baseline and Post-R…
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023★ strong match
…er
2,996
12,986
15,982
SEC
220
7,350
7,570
Retail
74
4,570
4,644
Non-Retail
146
2,780
2,926
State
2,776
5,636
8,412
Retail
2,166
4,399
6,566
Non-Retail
610
1,237
1,847
( printed page 75992)
Insurer
151
32
183
Robo-Adviser
10
190
200
Pension Consultant
930
81
1,011
Investment Company Underwriter
20
0
20
Total
4,502
14,7…
ERISAProposed Rules (FR)Proposed Nov 21, 2022★ strong match
…from the VFC Program and the exemption is estimated at 12,261 hours with an equivalent cost of $929,776 (7,518 hours with an equivalent cost of $584,484 for the VFC Program, 4,743 hours with an equivalent cost of $345,292 for VFCP exemption).
The total aggregate annual cost burden for the information collection arising…
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…
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 …
82 FR 47409 — Claims Procedure for Plans Providing Disability Benefits; Extension of Applicability Date ERISAProposed Rules (FR)Proposed Oct 12, 2017
…inancially from the SSA's disability finding.”);
Brown
v.
Hartford Life Ins. Co.,
301 F. App'x 772, 776 (10th Cir. 2008) (insurer's discussion was “conclusory” and “provided no specific discussion of how the rationale for the SSA's decision, or the evidence the SSA considered, differed from its own policy criteria or t…
81 FR 92316 — Claims Procedure for Plans Providing Disability Benefits ERISAFinal Rules (FR)Dec 19, 2016
301 F. App'x 772, 776 (10th Cir. 2008) (insurer's discussion was “conclusory” and “provided no specific discussion of how the rationale for the SSA's decision, or the evidence the SSA considered, differed from its own policy criteria or the medical documentation it considered”). Other commenters, however, urged the Dep…