81 FR 43430 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Catch-Up Adjustments ERISAFinal Rules (FR)Jul 1, 2016
…ay be established by regulation pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended)” and adding in its place “(such amounts to be adjusted for inflation pursuant to the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended).”
§ 2560.502c-7
[Amended]
50. Amend § 2560.502c…
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
the preamble to the accompanying final rule, which contained information relevant to the costs and administrative burdens attendant to the proposals. The Department took into account such public comments in connection with making changes to the prohibited transaction exemption, analyzing the economic impact of the prop…
ERISACourt RulingsJul 26, 1995
… will be
forwarded to you when completed." The IRS sent NIP a second deficiency letter on March 20,
1990, noting that Schedule. B and the IQPA's opinion was still
missing, and that some information was missing from the Schedule
C that was provided, and reiterated the penalties which could be
levied by the IRS and the D…
ERISACourt RulingsApr 28, 1995
…s plan administrator of its Pension Plan ("Plan") for reporting deficiencies in connection
with the 1990 annual report required under ERISA to be filed for
-2-
the Plan by the Plan Administrator. Respondent filed an answer
and request for an administrative hearing pursuant to 29 C.F.R.
§§ 2560.502c-2 and 2570.62, and a…
85 FR 2292 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2020 ERISAFinal Rules (FR)Jan 15, 2020
…51 et seq.;43 U.S.C. 1333; 28 U.S.C. 2461 note (Federal Civil Penalties Inflation Adjustment Act of 1990); Pub. L. 114-74 at sec. 701; Reorganization Plan No. 6 of 1950, 15 FR 3174, 64 Stat. 1263; Secretary's Order 10-2009, 74 FR 58834.
§ § 702.204, 702.236, and 702.271
[Amended]
4. In the following table, for each par…
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
e use of the SCC and suggested that the Department should allow self-correctors to choose whether (a) to provide notice to interested persons (but
not to EBSA) or (b) make the plan contribution. After considering these comments, the Department has not made this change. Self-correctors have a streamlined procedure for s…
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
nancial institution, an insurance company, or a broker-dealer.
Back to Citation
8.
Cerulli Associates, “Retirement Markets 2015.”
Back to Citation
9. The Department initially proposed an amendment to its regulation defining a fiduciary within the meaning of ERISA section 3(21)(A)(ii) and Code section 4975(e)(3)(B) on…
84 FR 213 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2019 ERISAFinal Rules (FR)Jan 23, 2019
…51
et seq.;43 U.S.C. 1333; 28 U.S.C. 2461 note (Federal Civil Penalties Inflation Adjustment Act of 1990); Pub. L. 114-74 at sec. 701; Reorganization Plan No. 6 of 1950, 15 FR 3174, 64 Stat. 1263; Secretary's Order 10-2009, 74 FR 58834.
§ § 702.204, 702.236, and 702.271
[Amended]
4. In the following table, for each par…
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.
Back to Citation
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…
89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
Treasury. This clarification was in the preamble to the December 2020 grant of PTE 2020-02, and the Department is now adding it to the operative text. Although the proposed broader recordkeeping condition is consistent with other exemptions, the Department understands commenters' concerns that broader access to the doc…
ERISACourt RulingsNov 4, 1994
t that there is
reasonable cause to waive part of the penalty
with respect to the 1990 annual report filing.
Accordingly, the Department hereby waives ,500 (60%) of the penalty with respect to
the 1990 annual report filing of the subject
plan.
This determination to waive
,500 of the
penalty does not preclude action by …
75 FR 53172 — Prohibited Transaction Exemption Procedures; Employee Benefit Plans ERISAProposed Rules (FR)Proposed Aug 30, 2010★ strong match
…nt published a final regulation (29 CFR 2570.30
et seq.
(1991),
reprinted in55 FR 32847 (August 10, 1990)) setting forth a revised exemption procedure that superseded ERISA Procedure 75-1. This regulation, which became effective on September 10, 1990, reflects the jurisdictional changes made by Presidential Reorganizat…
ERISACourt RulingsFeb 22, 2000related by meaning
he failure to deliver the Annual Report Form
5500 C/Rs by November 13, 1998, which were delivered five days late
on November 18, 1998
15,000.00
Total: $53,062.00
IT IS THEREFORE ORDERED that:
1. In the event that the Respondent pays to
the Complainant the 1% of the $2,096,200.00 penalty, the previously
negotiated civil…
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…
87 FR 14722 — Procedures Governing the Filing and Processing of Prohibited Transaction Exemption Applications ERISAProposed Rules (FR)Proposed Mar 15, 2022
follow when requesting an exemption. On August 10, 1990, the Department issued its current exemption procedure regulation, which
( printed page 14736) replaced ERISA Procedure 75-1, for applications for prohibited transaction exemptions filed on or after September 10, 1990. (29 CFR 2570.30 through 2570.52, 55 FR 32836,…
85 FR 40589 — Conflict of Interest Rule-Retirement Investment Advice: Notice of Court Vacatur ERISAFinal Rules (FR)Jul 7, 2020related by meaning
individual.
Jeanne Klinefelter Wilson,
Acting Assistant Secretary, Employee Benefits Security Administration, U.S. Department of Labor.
Footnotes
1.
See 40 FR 50842-44 (Oct. 31, 1975).
Back to Citation
2.
The
Federal Register
citations for the applicable versions of the previously granted PTEs are as follows: PTE 75…
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
r” a State law is to hinder its operation or “frustrate [a] goal of that law.”
Humana Inc. V. Forsyth,
525 U.S. 299, 308 (1999).
Back to Citation
113. Reorganization Plan No. 4 of 1978 (5 U.S.C. App. 1 (2018)) generally transferred the authority of the Secretary of the Treasury to grant administrative exemptions under…
82 FR 5373 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2017 ERISAFinal Rules (FR)Jan 18, 2017
…51 et seq.;43 U.S.C. 1333; 28 U.S.C. 2461 note (Federal Civil Penalties Inflation Adjustment Act of 1990); Pub. L. 114-74 at sec.701; Reorganization Plan No. 6 of 1950, 15 FR 3174, 64 Stat. 1263; Secretary's Order 10-2009, 74 FR 58834.
§§ 702.204, 702.236, and 702.271
[Amended]
4. In the table below, for each paragraph…
ERISACourt RulingsDec 21, 1993
…lan for 185 of it 264 employees.
On March 31, 1989 NIP completed its 1988 Plan Year. On January
16, 1990, NIP through a professional service, Tycor Benefits
Administrators, Inc., filed its annual report with the Internal
Revenue Service (IRS). This filing was accompanied by an
appropriate request for extension to file …
88 FR 9408 — Amendment and Restatement of Voluntary Fiduciary Correction Program ERISAProposed Rules (FR)Proposed Feb 14, 2023related by meaning
of section 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…