91 FR 9213 — Requirement To Provide Paper Statements in Certain Cases-Amendments to Electronic Disclosure Safe Harbors ERISAProposed Rules (FR)Proposed Feb 25, 2026
…eir required ERISA disclosures electronically.[3]
The first electronic safe harbor was published in 2002 (the 2002 safe harbor).[4] The 2002 safe harbor establishes tailored safeguards for electronic disclosure for two categories of participants and beneficiaries. The first category is for participants whose employment…
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, 2025★ strong match
… Labor.
ACTION:
Exemption amendment.
SUMMARY: This document amends Prohibited Transaction Exemption 2002-51, an exemption for certain transactions identified in the Department of Labor's Voluntary Fiduciary Correction Program (VFC Program or Program). The VFC Program is designed to encourage correction of fiduciary bre…
87 FR 70753 — Prohibited Transaction Exemption (PTE) 2002-51 To Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program ERISAProposed Rules (FR)Proposed Nov 21, 2022★ strong match
…on.
SUMMARY: This document gives notice of a proposed amendment to Prohibited Transaction Exemption 2002-51, an exemption for certain transactions identified in the Department's Voluntary Fiduciary Correction Program (VFC Program or VFCP). The VFC Program allows persons who may have engaged in a breach of fiduciary dut…
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
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 31884 — Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA ERISAFinal Rules (FR)May 27, 2020
ded ERISA's delivery standards in 2002 by establishing a safe harbor for the use of electronic media to furnish disclosures (the 2002 safe harbor).[3] The 2002 safe harbor was not and is not the exclusive means by which a plan administrator may use electronic media to satisfy the general standard. However, plan adminis…
91 FR 46602 — Electronic Disclosure by Group Health Plans Under ERISA ERISAProposed Rules (FR)Proposed Jul 23, 2026
…for the use of electronic media by group health plan administrators at 29 CFR 2520.104b-1(c).[3]
In 2002, the Department expanded the safe harbor (2002 safe harbor) to apply to disclosures under Title I of ERISA generally, accounting for the expanded scope of required disclosures under ERISA for pension benefit plans a…
89 FR 32260 — Amendment to Prohibited Transaction Exemption 2020-02 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
to comply with protective conditions designed to ensure prudent advice and avoid the harmful impact of dangerous conflicts of interest.
Recordkeeping Section IV provides that the Financial Institution must maintain for a period of six years following the covered transaction records demonstrating compliance with this e…
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, 2016★ strong match
tion.
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14.
67 FR 64137 (October 17, 2002).
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15.
See
Advisory Opinion 2011-08A (June 21, 2011).
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16. As noted above, for purposes of this amendment, the terms “Individual Retirement Account” or “IRA” mean any account or annuity described in Code section 4975(e)(1)(B) t…
90 FR 4192 — Voluntary Fiduciary Correction Program ERISAFinal Rules (FR)Jan 15, 2025★ strong match
…ther plan fiduciary.
See
sections 6.1 and 6.2.
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13.
67 FR 15062, 15068, (March 28, 2002).
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14.
71 FR 20262, 20265 (April 19, 2006).
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15.
The proposal noted that the class exemption PTE 2002-51 is generally unavailable to VFC Program applicants that have, within the pre…
80 FR 22021 — Proposed Amendment to and Proposed Partial Revocation of Prohibited Transaction Exemption (PTE) 86-128 for Securities Transactions Involving Employee Benefit P… ERISAProposed Rules (FR)Proposed Apr 20, 2015★ strong match
…relief for related entities in PTE 86-128, and the approach taken in this proposal to do so.
V. The 2002 Amendment and Clarification of Recapture of Profits Exception of PTE 86-128
As explained above, discretionary trustees were first permitted to rely on PTE 86-128 without meeting the “recapture of profits” provision …
81 FR 21208 — Amendments to Class Exemptions 75-1, 77-4, 80-83 and 83-1 ERISAFinal Rules (FR)Apr 8, 2016★ strong match
estment Trusts, 48 FR 895 (Jan. 7, 1983), as amended at 67 FR 9483 (March 1, 2002).
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15.
See
ERISA section 404.
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16. The Department notes that PTE 2002-13 amended PTEs 80-83 and 83-1 so that the terms “employee benefit plan” and “plan” refer to an employee benefit plan described in ER…
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, 2023★ strong match
…of relief provided by PTE 75-1 because it was issued jointly by the Department and the IRS.
See
PTE 2002-13, 67 FR 9483 (Mar. 1, 2002) (preamble discussion). For simplicity and consistency with the other new exemptions and amendments to other existing exemptions published elsewhere in this issue of the
Federal Register…
88 FR 9408 — Amendment and Restatement of Voluntary Fiduciary Correction Program ERISAProposed Rules (FR)Proposed Feb 14, 2023★ strong match
…ould 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.
Under Reorganization Plan No. 4 of 1978…
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023related by meaning
l to provide greater details about the evidentiary hearing and the written ineligibility notice, and, if so, what details are necessary.
Recordkeeping The Department is considering amending the recordkeeping provisions in Section IV to allow more parties to review the records necessary to determine whether the exemptio…
89 FR 43675 — Prohibited Transaction Exemption 2006-06 for Services Provided in Connection With the Termination of Abandoned Individual Account Plans ERISAFinal Rules (FR)May 17, 2024related by meaning
burden for this new condition because it is expected to be de minimis and included in other notices sent to the Department.
G. Paperwork Reduction Act In accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), the Department solicited comments concerning the information collection requireme…
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
…elief provided by PTE 75-1 because it was issued jointly by the Department and the Service.
See PTE 2002-13, 67 FR 9483 (March 1, 2002) (preamble discussion). For simplicity and consistency with the other new exemptions and amendments to other existing exemptions published elsewhere in this issue of the
Federal Registe…
84 FR 56894 — Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA ERISAProposed Rules (FR)Proposed Oct 23, 2019
… to an employee at his or her workplace is acceptable, as is material sent by first class mail.
(i) 2002 Electronic Disclosure Safe Harbor Based on developing technology, such as email and the internet, the Department of Labor (Department) amended the general standards for delivery of required disclosures in 2002 by es…
ERISADOL Technical ReleasesSep 13, 2013
…ble year, have not attained age 27, up to a maximum dollar amount for a coverage period. IRS Notice 2002-45, 2002-02 CB 93; Revenue Ruling 2002-41, 2002-2 CB 75. This reimbursement is excludable from the employee’s income. Amounts that remain at the end of the year generally can be used to reimburse expenses incurred i…
80 FR 22004 — Proposed Amendment to Prohibited Transaction Exemption (PTE) 75-1, Part V, Exemptions From Prohibitions Respecting Certain Classes of Transactions Involving Em… ERISAProposed Rules (FR)Proposed Apr 20, 2015related by meaning
…elief provided by PTE 75-1 because it was issued jointly by the Department and the Service.
See
PTE 2002-13, 67 FR 9483 (March 1, 2002) (preamble discussion). For simplicity and consistency with the other new proposed exemptions and proposed amendments to other existing exemptions published elsewhere in
this issue of t…
82 FR 56545 — 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)Nov 29, 2017related by meaning
uld have been required for the January 1, 2018 applicability date, but is based on continued adherence to the Impartial Conduct Standards.”).
See also Comment Letter #82 (Standard Insurance Company and Standard Retirement Services, Inc.) (“we ask that The Department also extend the temporary enforcement policy providin…