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 47534 — Proposed Revision of Annual Information Return/Reports ERISAProposed Rules (FR)Proposed Jul 21, 2016
nation demonstrations in the IRS determination letter process.
See
Rev. Proc. 2015-6, 2015-1 I.R.B. 198 and Announcement 2011-82, 2011-52 I.R.B. 1052. The IRS also added other IRS-only questions to the 2016 Forms 5500 and 5500-SF in order to address various compliance issues. Specifically, there are new questions as 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
ion to permit all discretionary trustees to utilize the recapture of profits exception as they originally were permitted to before the 2002 Amendment. In order to achieve this result, the Department proposed to amend redesignated section IV(b) to provide that Sections III(a), III(h), and III(i) do not apply in any case…
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
…sed information collection request (ICR) included in the Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit Plans and Broker-Dealers; Proposed Amendment to and Partial Revocation of PTE 75-1, Exemptions From Prohi…
90 FR 4192 — Voluntary Fiduciary Correction Program ERISAFinal Rules (FR)Jan 15, 2025
… Notice 2023-43, once a plan or plan sponsor comes under examination (as defined in section 5.08 of Rev. Proc. 2021-30), an Eligible Inadvertent Participant Loan Failure is no longer eligible for self-correction under the IRS's EPCRS unless the plan sponsor has, before the plan or plan sponsor comes under examination, …
ERISAProposed Rules (FR)Proposed Nov 21, 2022
… for VFC Program correction under Title I of ERISA. Further, the latest updated version of EPCRS in Rev.
( printed page 71171) Proc. 2021-30 makes improvements to the program's rules for correcting benefit overpayments from defined benefit (DB) pension plans that give DB plan fiduciaries new options for correcting such…
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, 2025★ strong match
…riations Act, 2023, Public Law 117 328, 136 Stat. 4459 (2022).
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7.
As described in Rev. Proc. 2021-30, or any successor guidance).
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8.
The term pension plans include both defined contribution plans and defined benefit plans.
See
ERISA section 3(34) and 3(35).
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9.
As no…
84 FR 37508 — Definition of “Employer” Under Section 3(5) of ERISA-Association Retirement Plans and Other Multiple-Employer Plans ERISAFinal Rules (FR)Jul 31, 2019
…hat violates Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, or the Americans with Disabilities Act of 1990. This sentence also recognizes that PEOs commonly have a role, for payroll and other human resource purposes, in hiring and firing workers of client-employers, but cli…
91 FR 4348 — Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure ERISAProposed Rules (FR)Proposed Jan 30, 2026
….ct.gov/-/media/ohs/reports/ohs-report-of-pharmacy-benefit-manager-practices-pa-23-171-s7.pdf?rev=01a4809a4795421e890970d8cd5f2fc1.
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46.
Bob Herman, `It's beyond unethical': Opaque conflicts of interest permeate prescription drug benefits (June 2023),
https://www.statnews.com/2023/06/20/pbms…
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
… Little, Jr., & Larry Thrailkill,
Fiduciaries Under ERISA: A Narrow Path to Tread, 30 Vanderbilt L. Rev. 1, 4-5 (1977) (referring to the “broadness of the [statutory] definition” of “fiduciary” under ERISA, such that the definition could cover “insurance salesmen who recommend the purchase of certain types of insurance…
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024★ strong match
…eration of these comments, the Department is retaining Section III(f) in the Final Amendment with a revision that changes references to a “master or prototype plan” to a “Pre-Approved Plan,” which is consistent with a change in terminology the IRS adopted in IRS Rev. Proc. 2017-41.
The Department also received several …
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
…ting exemptions.
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13.
17 CFR 240.10b-16.
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14.
The Department has previously determined, after consulting with the Internal Revenue Service, that plans described in 4975(e)(1) of the Code are included within the scope of relief provided by PTE 75-1 because it was issued jointly by the D…
89 FR 23090 — Amendment to Prohibited Transaction Class Exemption 84-14 for Transactions Determined by Independent Qualified Professional Asset Managers (the QPAM Exemption) ERISAFinal Rules (FR)Apr 3, 2024related by meaning
as well.
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52.
Section I(k) of the Proposed Amendment has been renumbered in the Final Amendment as Section I(j).
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53. The Department additionally clarifies that the certification of the independent audit would come at some point after an individual exemption is granted and the One-Year…
81 FR 20946 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice ERISAFinal Rules (FR)Apr 8, 2016★ strong match
…-1, Parts II-V; PTE 77-4; PTE 80-83; PTE 83-1: PTE 84-24; and PTE 86-128.
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54.
The revoked exemptions include PTE 75-1, Parts I(b) and (c); PTE 75-1, Part II(2); and parts of PTE 84-2 and PTE 86-128.
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55.
88 FR 76004 — Proposed Amendment to Prohibited Transaction Exemption 84-24 ERISAProposed Rules (FR)Proposed Nov 3, 2023★ strong match
…master or prototype plan” to instead refer to a “Pre-approved Plan,” consistent with changes in IRS Rev. Proc. 2017-41, and to move the definitions from existing Section VI to new proposed Section X. As amended, Section III(a)-(f) would read:
(a) The receipt, directly or indirectly, by an insurance agent or broker or a…
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…
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
, including as part of a comment responding to the broader proposal. Comments are due by January 2, 2024 to ensure their consideration.
PRA Addressee: Address requests for copies of the ICR to James Butikofer, Office of Research and Analysis, U.S. Department of Labor, Employee Benefits Security Administration, 200 Cons…
83 FR 53534 — Definition of “Employer” Under Section 3(5) of ERISA-Association Retirement Plans and Other Multiple-Employer Plans ERISAProposed Rules (FR)Proposed Oct 23, 2018
…Ps administered by PEOs for the benefit of the employees of their client employers, as described in Rev. Proc. 2002-21.
13. Congressional Review Act
The proposed rule is subject to the Congressional Review Act (CRA) provisions of the Small Business Regulatory Enforcement Fairness Act of 1996 (5 U.S.C. 801
et seq.) and,…
75 FR 53172 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans ERISAProposed Rules (FR)Proposed Aug 30, 2010★ strong match
… issued an exemption procedure on April 28, 1975 (ERISA Procedure 75-1, 40 FR 18471, also issued as Rev. Proc. 75-26, 1975-1 C.B. 722). Under this procedure, a person seeking an exemption under both section 408(a) of ERISA and section 4975 of the Code was obliged to file an exemption application with both the Internal …
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, 2015★ strong match
…sed information collection request (ICR) included in the Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 84-24 for Certain Transactions Involving Insurance Agents and Brokers, Pension Consultants, Insurance Companies, and Investment Company Principal Underwriters as part …