ERISACourt RulingsJan 20, 1998
…ng concern
since approximately 1976 and, as of the middle of 1990, employed
around 120 people. From 1985 until 1989, Richard L. Smith, Chief
Executive Officer and sole shareholder of SA, engaged in over
fifteen transactions involving amounts of up to $700,000.00; most
of the funds he used in these transactions were tra…
81 FR 47534 — Proposed Revision of Annual Information Return/Reports ERISAProposed Rules (FR)Proposed Jul 21, 2016
…bility for Immediate Gain Methods.
Complete this line only if you use an immediate gain method (see Rev. Rul. 81-213, 1981-2 C.B. 101, for a definition of immediate gain method).
Lines 1c(2)(a), (b), and (c). Information for Plans Using Spread Gain Methods.
Complete these lines only if you use a spread gain method (see…
85 FR 55219 — Fiduciary Duties Regarding Proxy Voting and Shareholder Rights ERISAProposed Rules (FR)Proposed Sep 4, 2020
ty Act, Hearings before the S. Subcomm. on Oversight of Gov. Mgmt., S. Hrg. 99-310 (June 25-26, 1985), at 5 (1985 ERISA Hearings).
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3. Office of Pension and Welfare Benefit Programs, Summary of Conclusions from Public Hearings (Jan. 1985) (1985 DOL Report), included in 1985 ERISA Hearings, at 454, 498 …
90 FR 28004 — Removal of Interpretive Bulletins Relating to the Employee Retirement Income Security Act of 1974 ERISAFinal Rules (FR)Jul 1, 2025related by meaning
977) (“The attention of interested parties is directed to the fact that regulation 2550.408c-2 replaces Interpretive Bulletin 75-6”).
Back to Citation 7.
41 FR 3289 (Jan. 22, 1976).
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8.
43 FR 47713 (Oct. 17, 1978). Congress subsequently ratified Reorganization Plan No. 4 in 1984. See Sec. 1, Public La…
89 FR 32122 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAFinal Rules (FR)Apr 25, 2024related by meaning
…t to stay application of the definition or the exemptions pending an appeal of the district court's ruling.
Nat'l Assoc. for Fixed Annuities
v.
Perez,
No. 16-5345, 2016 BL 452075 (D.C. Cir. 2016).
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47.
NAFA,
217 F. Supp. 3d at 23, 27-28.
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48.
885 F.3d 676 (10th Cir. 2018);
see Thriven…
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
….
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51.
John Hancock,
510 U.S. at 98.
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52.
The standard does not prevent investment advice fiduciaries relying on the exemption from restricting their recommended investments to proprietary products or products that generate
revenue sharing. Section IV of the Best Interest Contract Exe…
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
36.
FINRA Regulatory Notice 12-25, p. 3 (2012).
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37.
Donovan
v.
Mazzola,
716 F.2d 1226, 1232 (9th Cir. 1983).
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38. One commenter requested an adjustment to the “prudence” component of the Best Interest Standard, under which the standard would be that of a “prudent person serving cli…
85 FR 40589 — Conflict of Interest Rule-Retirement Investment Advice: Notice of Court Vacatur ERISAFinal Rules (FR)Jul 7, 2020related by meaning
…5 note. Section 2510.3-38 is also issued under Pub. L. 105-72, Sec. 1(b), 111 Stat. 1457 (1997).
2. Revise § 2510.3-21 to read as follows:
§ 2510.3-21
(a)-(b) [Reserved]
(c)
Investment advice.
(1) A person shall be deemed to be rendering “investment advice” to an employee benefit plan, within the meaning of section 3(2…
ERISACode / StatuteJan 6, 2025
…agraph shall not apply to any plan which on any date after December 31, 1974; and before January 1, 1985, did not hold employer securities or employer real property (or both) the aggregate fair market value of which determined on such date exceeded 10 percent of the greater of 1
(a)(3)(B)(i) (i) the fair market value o…
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…
81 FR 21208 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 ERISAFinal Rules (FR)Apr 8, 2016related by meaning
… ERISA section 408(b)(2) and Code section 4975(d)(2) provide relief from the prohibited transaction rules for service contracts or arrangements if the contract or arrangement is reasonable, the services are necessary for the establishment or operation of the plan or IRA, and no more than reasonable compensation is paid…
90 FR 28007 — Selection of Annuity Providers-Safe Harbor for Individual Account Plans ERISAFinal Rules (FR)Jul 1, 2025related by meaning
…uidelines issued by the Attorney General. Section 3(c) of E.O. 12988 requires Executive agencies to review regulations in light of applicable standards in section 3(a) and section 3(b) to determine whether they are met or it is unreasonable to meet one or more of them. The Department has completed the required review a…
76 FR 66136 — Investment Advice-Participants and Beneficiaries ERISAFinal Rules (FR)Oct 25, 2011related by meaning
… 17, 1978), 5 U.S.C. App. 1, 92 Stat. 3790, the authority of the Secretary of the Treasury to issue rulings under section 4975 of the Code has been transferred, with certain exceptions not here relevant, to the Secretary of Labor. Therefore, the references in this notice to specific sections of ERISA should be taken as…
85 FR 81658 — Fiduciary Duties Regarding Proxy Voting and Shareholder Rights ERISAFinal Rules (FR)Dec 16, 2020
…estment trusts. One commenter stated that if plans do not participate in the proxy process, it may prevent issuers from reaching quorum for their shareholder meetings, and this would impose costs on plans.
Non-ERISA Investors
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
…blic/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 above, PTE 84-24, as amended, will exclude compensation received as a result of the provision of investment advice from the existin…
75 FR 53172 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans ERISAProposed Rules (FR)Proposed Aug 30, 2010
…e explaining its policies and practices relating to the consideration of exemption applications. In 1985, the Department published a statement of policy concerning the issuance of retroactive exemptions from the prohibited transaction provisions of section 406 of ERISA and section 4975 of the Code (ERISA Technical Rele…
81 FR 20946 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice ERISAFinal Rules (FR)Apr 8, 2016related by meaning
…-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.
89 FR 4662 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications ERISAFinal Rules (FR)Jan 24, 2024★ strong match
…tive exemptions from certain of those prohibited transactions.[2] The Secretary also delegated this rulemaking authority under FERSA to the Assistant Secretary of Labor for the Employee Benefits Security Administration.[3]
Over time, the Department has issued additional guidance explaining its policies and practices re…
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
t. Life Ins. Co.
v.
Harris Trust & Sav. Bank,
510 U.S. 86, 98 (1993).
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40.
See BancOklahoma Mortg. Corp.
v.
Capital Title Co., Inc., 194 F.3d 1089 (10th Cir. 1999) (stating that McCarran-Ferguson Act bars the application of a Federal statute only if (1) the Federal statute does not specifically relate…
ERISACourt RulingsAug 25, 1995
….2d 420, 427 (4th Cir. 1981). See
Barrowclough v. Kidder Peabody & Co., 752 F.2d 923, 929
(3rd Cir. 1985).
Among the means employed to accomplish this purpose are the
fiduciary responsibility provisions of ERISA §§ 404-
406, 29 U.S.C. §§ 1104-1106. These sections
incorporate and codify the traditional common law, fiduc…