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1. 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). Back to Citation 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 …
2. DOL Office of Administrative Law Judges — U.S. DEPARTMENT OF LABOR, PENSION AND WELFARE BENEFITS ADMINISTRATION v. RICHARD L. SMITH and SMITH ADMINISTRATORS
   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…
3. 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
   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.  Under Reorganization Plan No. 4 of 1978, 5 U.S.C. App., the authority of the Secretary of Treas…
4. 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
   proposal and updated economic analysis. The first proposed amendment to the rule was withdrawn on April 20, 2015, see80 FR 21927. Back to Citation 10.  Subsequent to the issuance of these regulations, Reorganization Plan No. 4 of 1978, 5 U.S.C. App. (2010), divided rulemaking and interpretive authority between the Secr…
5. DOL Office of Administrative Law Judges — UNITED STATES DEPARTMENT OF LABOR, PENSION AND WELFARE BENEFITS ADMINISTRATION v. T. W. TAGGART
   ERISACourt RulingsAug 25, 1995★ strong match
   . Kelly, 465 F. Supp. at 354. Taggart owned 91.2 percent of Respondent, AMCI. By causing this transaction, Respondent Taggart effectively acted on his behalf as well as on behalf of the MPEHA Board of Managers. These conflicting loyalties meant that he could not exercise his best judgment solely in the interest of MPEH…
6. 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
   this provision undermines the careful balance of labor relations in this country and argued that it is preempted by the National Labor Relations Act. After consideration of the comments, the Department has deleted the proposed recordkeeping requirements applicable to Section VII of PTE 86-128. However, as with PTE 202…
7. ERISA § 407(a)(3)(B) (29 U.S.C. § 1107) — Limitation with respect to acquisition and holding of employer securities and employer real property by certain plans
   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…
8. 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
   upremacy when the two regimes cannot be harmonized or accommodated”). Back to Citation 50.   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…
9. 89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24
   ERISAFinal Rules (FR)Apr 25, 2024related by meaning
   als issued by the SEC or its staff, the Department retains interpretive authority with respect to satisfaction of this exemption. Back to Citation 12.  To the extent a party receives ongoing compensation for a recommendation that was made before the Applicability Date, including through a systematic purchase payment or…
10. 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). Back to Citation 8.  43 FR 47713 (Oct. 17, 1978). Congress subsequently ratified Reorganization Plan No. 4 in 1984. See Sec. 1, Public La…
11. 87 FR 45204 — Proposed Amendment to Prohibited Transaction Class Exemption 84-14 (the QPAM Exemption)
    ERISAProposed Rules (FR)Proposed Jul 27, 2022★ strong match
    r desires to enter into a party in interest transaction with its plan but leaves the ultimate determination and review to a QPAM. Back to Citation 37.  Proposed Amendment to PTE 84-14, 68 FR 52419, 52423 (Sept. 3, 2003). Back to Citation 38.  For purposes of these changes, the Department used March 1984 and December 20…
12. 85 FR 82798 — Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees
    ERISAFinal Rules (FR)Dec 18, 2020★ strong match
    ired notice and comment rulemaking, citing Am. Min. Cong. v. Mine Safety & Health Admin., 995 F.2d 1106, 1112 (D.C. Cir. 1993), and Chao v. Rothermel, 327 F.3d 223, 227 (3d Cir. 2003). The Department disagrees that the factors cited in these cases are satisfied. In this regard, there would be an adequate legislative ba…
13. 85 FR 81658 — Fiduciary Duties Regarding Proxy Voting and Shareholder Rights
    ERISAFinal Rules (FR)Dec 16, 2020
    9, down from a high of 22 percent in 1985. Mutual funds, in contrast, held 22 percent of all corporate equity in 2019, up from 6 percent in 1985.[118] As ERISA-covered pensions have shifted from defined benefit to defined contribution plans, both the proportion of pension assets invested in mutual funds and the proport…
14. 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…
15. 89 FR 4662 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications
    ERISAFinal Rules (FR)Jan 24, 2024★ strong match
    …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 ERISA section 406 and Code section 4975 (ERISA Technical Release 85-1, …
16. DOL Office of Administrative Law Judges — UNITED STATES DEPARTMENT OF LABOR, PENSION AND WELFARE BENEFITS ADMINISTRATION v. MERSKIN & MERSKIN, P.C.
    ERISACourt RulingsApr 27, 1995related by meaning
    ely filing of annual reports for the fiscal years 1988, 1989, 1990 and 1991. Therefore, ORDER IT IS ORDERED that assessment of the civil money penalty against the Respondent in the total amount of four thousand dollars ($4,000) is hereby REVERSED. Furthermore, IT IS ORDERED that, in the event of future noncompliance wi…
17. 79 FR 26192 — Health Care Continuation Coverage
    ERISAProposed Rules (FR)Proposed May 7, 2014
    …Security Act (ERISA), were enacted as part of the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), which also promulgated parallel provisions of the Internal Revenue Code (the Code) and the Public Health Service Act (the PHS Act).[1]
18. 81 FR 20946 — Definition of the Term “Fiduciary”; Conflict of Interest Rule-Retirement Investment Advice
    ERISAFinal Rules (FR)Apr 8, 2016related by meaning
    -21(d). Back to Citation 48.  Reorganization Plan No. 4 of 1978 (5 U.S.C. App. (2000)). Back to Citation 49.  Id. at section 102. Back to Citation 50.  Reorganization Plan, Message of the President. Back to Citation 51.   See, e.g., Public Citizen v. Dep't of Health and Human Servs., 332 F.3d 654, 668 (2003) (the ratif…
19. 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”). Back to Citation 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…
20. 87 FR 14722 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications
    ERISAProposed Rules (FR)Proposed Mar 15, 2022
    …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…