89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024★ strong match
…nizes that the rulemaking may change the number of Financial Institutions who choose to rely on PTE 2020-02. Consistent with its initial analysis in 2020, the proposal assumed that all entities eligible to rely on the existing PTE 2020-02 were relying on it. However, one commenter indicated that some entities eligible …
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
…nizes that the rulemaking may change the number of Financial Institutions who choose to rely on PTE 2020-02. Consistent with its initial analysis in 2020, the proposal assumed that all entities eligible to rely on the existing PTE 2020-02 were relying on it. However, one commenter indicated that some entities eligible …
91 FR 9213 — Requirement To Provide Paper Statements in Certain Cases-Amendments to Electronic Disclosure Safe Harbors ERISAProposed Rules (FR)Proposed Feb 25, 2026★ strong match
…y continue to receive electronic disclosure under the 2002 safe harbor in the future. Regarding the 2020 safe harbor, the Department assumes that all plans that provided electronic disclosure prior to SECURE 2.0 will continue to use the 2020 safe harbor for some or all their participants. It should be noted that some p…
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023★ strong match
… provide important protections to Retirement Investors by enhancing the existing protections of PTE 2020-02. Effective Date
PTE 2020-02 was originally published on December 18, 2020, and it became effective on February 16, 2021. The Department proposes that the amendment to PTE 2020-02 will be effective on the date tha…
91 FR 13503 — Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur ERISAFinal Rules (FR)Mar 20, 2026★ strong match
… effectively vacated. What is not ambiguous, however, is that neither district court questioned the procedural aspects of the Department's grant of PTE 2020-02, including the Department's required findings under section 408(a) of ERISA and section 4975(c)(2) of the Code that PTE 2020-02 is administratively feasible, in…
89 FR 32346 — Amendment to Prohibited Transaction Exemptions 75-1, 77-4, 80-83, 83-1, and 86-128 ERISAFinal Rules (FR)Apr 25, 2024★ strong match
… on PTE 2020-02 and PTE 84-24. The increases include significant increases in the cost estimates to review and implement the rule and to establish policies and procedures. For a complete discussion of the cost estimates, refer to the Paperwork Reduction Act sections for PTE 2020-02 and PTE 84-24 or the regulatory impac…
87 FR 73822 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAFinal Rules (FR)Dec 1, 2022★ strong match
… 2021, the Department announced that it would stay enforcement of the 2020 rules pending a complete review of the matter. Subsequently, on May 20, 2021, the President issued Executive Order 14030, entitled “Executive Order on Climate-Related Financial Risk.” Section 4 of the Executive order directs the Department to co…
85 FR 82798 — Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees ERISAFinal Rules (FR)Dec 18, 2020★ strong match
… party other than the customer.” 950 Mass. Code Regs. 12.204 & 12.207 as amended effective March 6, 2020.
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26.
NAIC Suitability in Annuity Transactions Model Regulation, Spring 2020,
available at www.naic.org/store/free/MDL-275.pdf
(NAIC Model Regulation).
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27.
Iowa Code § 507B.48 (…
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, 2025related by meaning
…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…
89 FR 4662 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications ERISAFinal Rules (FR)Jan 24, 2024related by meaning
…posed Rule.
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10.
67 FR 44622 (July 3, 2002).
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11.
See, e.g.,
PTE 2020-02 (85 FR 82798, December 18, 2020); PTE 2022-02 (87 FR 23245, April 19, 2022); PTE 2022-03 (87 FR 54264, September 2, 2022); and Proposed Exemption for Morgan Stanley & Co. LLC, and Current and Future Affiliates an…
82 FR 57664 — 18-Month Extension of Transition Period and Delay of Applicability Dates; Best Interest Contract Exemption (PTE 2016-01); Class Exemption for Principal Transac… ERISAFinal Rules (FR)Dec 7, 2017related by meaning
…kius LLP).” 2. On page 56559, second column, add the following language to the end of Congressional Review Act discussion: “Although the CRA generally requires that major rules become effective no sooner than 60 days after Congress receives the required report, the CRA allows the issuing agency to make a rule effective…
85 FR 2292 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2020 ERISAFinal Rules (FR)Jan 15, 2020
…
January 2, 2018 levels.
After November 2, 2015
After January 23, 2019 but on or before January 15, 2020
January 23, 2019 levels.
After November 2, 2015
After January 15, 2020
January 15, 2020 levels.
Civil Monetary Penalties for Other DOL Programs
Violations occurring
Penalty assessed
Which penalty level applies
On or…
91 FR 46602 — Electronic Disclosure by Group Health Plans Under ERISA ERISAProposed Rules (FR)Proposed Jul 23, 2026
nefit Plans
On May 27, 2020, the Department issued Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA (2020 safe harbor).[20] The 2020 safe harbor amended part 2520 by adding 29 CFR 2520.104b-31, which provides an additional, optional method for compliance with ERISA's general standard for furn…
85 FR 40589 — Conflict of Interest Rule-Retirement Investment Advice: Notice of Court Vacatur ERISAFinal Rules (FR)Jul 7, 2020related by meaning
…e issued by the Fifth Circuit.
In addition, the Department finds that it has good cause to make the revisions immediately effective under section 553(d) of the Administrative Procedure Act, 5 U.S.C. 553(d). Section 553(d) provides that final rules shall not become effective until 30 days after publication in the
Federa…
88 FR 9408 — Amendment and Restatement of Voluntary Fiduciary Correction Program ERISAProposed Rules (FR)Proposed Feb 14, 2023related by meaning
…ction 305 as it affects EPCRS that should be taken into account by the Department in making further revisions to the VFC Program and PTE 2002-51. Signed at Washington, DC, this 1st day of February, 2023.
Lisa M. Gomez,
Assistant Secretary, Employee Benefits Security Administration, Department of Labor.
Footnotes
1.
Un…
86 FR 57272 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAProposed Rules (FR)Proposed Oct 14, 2021★ strong match
…ing proxy voting advice. In particular, SEC staff are to consider whether to recommend that the SEC revisit its 2020 codification of the definition of solicitation as encompassing proxy voting advice, the 2019 Interpretation and Guidance regarding that definition, and the conditions on exemptions from the information a…
ERISAFinal Rules (FR)Feb 24, 2023
…Citation
22. Employee Benefits Security Administration, Private Pension Plan Bulletin, Abstract of 2020 Form 5500 Annual Report (2020). The 2020 Form 5500 data set is the most recent available because Form 5500 filings for the 2020 reporting year generally are not required to be filed for calendar year plans until Jul…
88 FR 76004 — Proposed Amendment to Prohibited Transaction Exemption 84-24 ERISAProposed Rules (FR)Proposed Nov 3, 2023
e section 4975(c)(2) and in accordance with procedures set forth in 29 CFR part 2570, subpart B (76 FR 66637 (October 27, 2011)).[1]
Current PTE 84-24 Currently, under PTE 84-24, plans and IRAs may purchase insurance or annuity contracts or investment company securities, and insurance agents or brokers, pension consult…
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…he amendment, including the Impartial Conduct Standards and the requirement for strong policies and procedures. These are fundamental investor protections that are necessary to ensure the financial institutions and investment professionals provide investment advice that is in the best interest of retirement investors. …
ERISAFinal Rules (FR)May 17, 2024
…CA would be tax-deferred, similar to the treatment of fully paid individual annuity contracts under Rev. Rul. 2011-7, until amounts are actually paid to the participant or beneficiary. Contemporaneous with the publication of Rev. Rul. 2020-23, the IRS published Notice 2020-80, 2020-47 IRB 1060
requesting comments on th…