89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
…on: PTE 2020-02 Improving Investment Advice for Workers & Retirees Frequently Asked Questions (Apr. 2021), (“2021 FAQs”),
available at https://www.dol.gov/sites/dolgov/files/ebsa/about-ebsa/our-activities/resource-center/faqs/new-fiduciary-advice-exemption.pdf.
87 FR 73822 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAFinal Rules (FR)Dec 1, 2022★ strong match
s reviewing investments annually × 2 hours × $129.74 per hour for a plan fiduciary) + (25,020 DC plans that use ESG × 1% of plans that have ties ×
1/3 of plans reviewing investments annually × 2 hours × $61.01 per hour for a clerical worker) = $506,029. This requirement has been eliminated in the finalized rule. 85 FR …
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023★ strong match
…ment professionals complying with the Impartial Conduct Standards and implementing the policies and procedures. This proposal is intended to align with other regulators' rules and standards of conduct.
These requirements are ICRs subject to the PRA. Readers should note that the burden discussed below conforms to the re…
91 FR 4348 — Improving Transparency Into Pharmacy Benefit Manager Fee Disclosure ERISAProposed Rules (FR)Proposed Jan 30, 2026
…ommittee on Finance,
Insulin: Examining the Factors Driving the Rising Cost of a Century Old Drug,
(2021),
https://www.finance.senate.gov/imo/media/doc/Insulin%20Committee%20Print.pdf.
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235.
Van Nuys K, Ribero R, Ryan M, Sood N. Estimation of the Share of Net Expenditures on Insulin Captured by US …
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024
… America (TIAA) for $97 million, citing disclosure violations and failure to implement policies and procedures.
See https://www.sec.gov/litigation/admin/2021/33-10954.pdf. While the SEC was able to settle, the Southern District of New York recently dismissed a complaint by plaintiffs in this same TIAA plan who argu…
ERISAFinal Rules (FR)Feb 24, 2023
…led employer plans (PEPs). On September 15, 2021, the Agencies published a notice of proposed forms revisions (NPFR) proposing amendments to the Form 5500 Annual Return/Report to implement annual reporting changes related to legislative provisions in the SECURE Act focused on MEPs and defined contribution group reporti…
86 FR 57272 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAProposed Rules (FR)Proposed Oct 14, 2021★ strong match
…tment to consider publishing, by September 2021, for notice and comment a proposed rule to suspend, revise, or rescind “Financial Factors in Selecting Plan Investments,” 85 FR 72846 (Nov. 13, 2020), and “Fiduciary Duties Regarding Proxy Voting and Shareholder Rights,” 85 FR 81658 (Dec. 16, 2020).
2. The Department's Pr…
89 FR 4662 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications ERISAFinal Rules (FR)Jan 24, 2024★ strong match
… Current and Future Affiliates and Subsidiaries, Application No. D-11955 (86 FR 64695, November 18, 2021).
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12.
87 FR 14725 (Mar. 15, 2022).
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13.
87 FR 14727 (Mar. 15, 2022).
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14.
Id.
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15.
See, e.g.,
PTE 2022-04 granted to the Children's Hospital of …
90 FR 4192 — Voluntary Fiduciary Correction Program ERISAFinal Rules (FR)Jan 15, 2025★ strong match
… 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, …
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
… America (TIAA) for $97 million, citing disclosure violations and failure to implement policies and procedures.
See https://www.sec.gov/litigation/admin/2021/33-10954.pdf.
While the SEC was able to settle, the Southern District of New York recently dismissed a complaint by plaintiffs in this same TIAA plan who argu…
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…
85 FR 82798 — Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees ERISAFinal Rules (FR)Dec 18, 2020related by meaning
…SA section 3(21)(A)(ii); Code section 4975(e)(3)(B).
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145.
Regulatory Planning and Review, 58 FR 51735 (Oct. 4, 1993).
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146.
Improving Regulation and Regulatory Review, 76 FR 3821 (Jan. 21, 2011).
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147.
86 FR 73976 — Revision of Annual Information Return/Reports ERISAFinal Rules (FR)Dec 29, 2021
…rt 2520
RIN 1210-AB97
AGENCY:
Employee Benefits Security Administration, Labor.
ACTION:
Final forms revisions.
SUMMARY: This document contains final revisions to the instructions for the Form 5500 Annual Return/Report of Employee Benefit Plan and Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Pl…
ERISADOL Technical ReleasesJul 25, 2023★ strong match
governmental plan at 45 CFR 144.103.
78 FR 68240 (Nov. 13, 2013).
26 CFR 54.9812-1(c)(2)(ii); 29 CFR 2590.712(c)(2)(ii); and 45 CFR 146.136(c)(2)(ii). 26 CFR 54.9812-1(c)(2); 29 CFR 2590.712(c)(2); and 45 CFR 146.136(c)(2).
26 CFR 54.9812-1(c)(4); 29 CFR 2590.712(c)(4); and 45 CFR 146.136(c)(4).
Pub. L. 116-260, 134 St…
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…
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
… Employee Benefits Security Administration, 200 Constitution Avenue NW, Room N-5718, Washington, DC 20210, or
ebsa.opr@dol.gov.
ICRs also are available at
https://www.RegInfo.gov
(
https://www.reginfo.gov/public/do/
PRAMain).
Amendments to PTE 75-1
ERISAProposed Rules (FR)Proposed Nov 21, 2022
ation
29.
Internal DOL calculation based on 2021 labor cost data. For a description of the Department's methodology for calculating labor rates, see: https://www.dol.gov/sites/dolgov/files/EBSA/laws-and-regulations/rules-and-regulations/technical-appendices/labor-cost-inputs-used-in-ebsa-opr-ria-and-pra-burden…
91 FR 13503 — Retirement Security Rule: Definition of an Investment Advice Fiduciary: Notice of Court Vacatur ERISAFinal Rules (FR)Mar 20, 2026related by meaning
… 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…
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…
88 FR 76004 — Proposed Amendment to Prohibited Transaction Exemption 84-24 ERISAProposed Rules (FR)Proposed Nov 3, 2023★ strong match
…The Department has submitted a copy of the rule to the OMB in accordance with 44 U.S.C. 3507(d) for review of its information collections. The Department and OMB are particularly interested in comments that:
Evaluate whether the collection of information is necessary for the functions of the agency, including whether t…