ERISADOL Technical ReleasesMar 18, 2011
2011-01 does not affect disclosure requirements still in effect for ERISA plans under the 2000 DOL claims procedure regulation and/or Part 1 of ERISA. Note: A number of comments on the 2010 interim final regulations raised concerns about the scope of the Federal external review process. This Technical Release 2011-01, …
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…
ERISADOL Technical ReleasesJun 22, 2011★ strong match
…usly with this technical guidance, the transition period is modified to extend through December 31, 2011. As discussed below, HHS intends to issue determinations regarding State external review implementation no later than July 31, 2011.
Temporary standards for NAIC-similar consumer protections
In addition to the trans…
ERISADOL Technical ReleasesDec 8, 2011
On September 13, 2011, the Department issued Technical Release 2011-03 (TR 2011-03), which sets forth an interim enforcement policy regarding the use of electronic media to satisfy the disclosure requirements under 29 CFR 2550.404a-5. In response, staff at the Department's Employee Benefits Security Administration (EBS…
ERISADOL Technical ReleasesSep 13, 2011
…of that regulation."(5) Section 2550.404a-5 applies to plan years beginning on or after November 1, 2011.(6) Under the transitional rule of section 2550.404a-5(j)(3)(i), the "initial disclosures required on or before the date on which a participant or beneficiary can first direct his or her investments" had to be furni…
75 FR 41600 — Reasonable Contract or Arrangement Under Section 408(b)(2)-Fee Disclosure ERISAFinal Rules (FR)Jul 16, 2010
…
Clerical hours
Clerical hourly labor cost
Total cost
(A)
(B)
(C)
(D)
A*B*C*D
Initial Disclosure: 2011
450,000
50
1/30
$26
$196,000
Initial Disclosure: 2012
61,000
50
1/30
26
27,000
Information Upon Request
45,000
50
1/30
26
20,000
Disclosure of Changes to Initial Disclosure
157,000
50
1/30
26
69,000
Investment Discl…
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…
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
….
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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) throu…
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, 2015related by meaning
…on.
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7.
67 FR 64137 (October 17, 2002).
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8.
See Advisory Opinion 2011-08A (June 21, 2011).
Back to Citation
9.
This proposal would move the definitions from Section I to Section VII. The other sections are re-ordered accordingly. Additionally, within the definitions section, the foll…
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, 2022related by meaning
he Department no longer believes that posting the notification is reasonably calculated to ensure that interested persons actually receive the notice. The Department has reviewed several notices to interested persons submitted to the applicable Regional Offices and found that some of them do not meet the applicable req…
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…
76 FR 42539 — Requirements for Fee Disclosure to Plan Fiduciaries and Participants-Applicability Dates ERISAFinal Rules (FR)Jul 19, 2011★ strong match
…ecurity Administration, Department of Labor.
Footnotes
1.
See http://www.dol.gov/ebsa/newsroom/2011/ebsa021111.html. Back to Citation
2.
29 CFR 2550.408b-2(c)(1)(vi).
Back to Citation
3.
One commenter requested clarification that the proposed transition rule was not intended to apply to newly eligible employees…
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
75(e)(1) of the Code are included within the scope of relief 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 p…
84 FR 56894 — Default Electronic Disclosure by Employee Pension Benefit Plans Under ERISA ERISAProposed Rules (FR)Proposed Oct 23, 2019
…ections 401(k)(13)(E) and 414(w)(4) for automatic contribution arrangements.
(iv) Technical Release 2011-03R On December 8, 2011, the Department issued Technical Release 2011-03R (TR 2011-03R), which sets forth an interim enforcement policy regarding the use of electronic media to satisfy the disclosure requirements un…
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
, correct footnote 66 to read “
See, e.g.,
Comment Letter #121 (HSBC North America Holdings Inc.); Comment Letter #124 (Morgan, Lewis & Bockius 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 beco…
ERISADOL Technical ReleasesMar 15, 2013
FR 43330 (the July 2010 regulations), and an amendment to the interim final regulations on June 24, 2011, at 76 FR 37208 (the June 2011 amendment).(2) On June 22, 2011, the Departments issued Technical Release 2011-02 (T.R. 2011-02), which established a transition period until January 1, 2012 for State external review …
ERISADOL Technical ReleasesDec 2, 2011
…n); and 45 CFR Part 158 (Final Rule with comment period made available to the public on December 2, 2011, and scheduled to be published in the Federal Register on December 7, 2011).(1) In order to reduce burdens on issuers and to minimize the tax impacts on participants in and sponsors of group health plans, the regula…
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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the following:
the agency or agencies that issued and signed a document
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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…
76 FR 31544 — Requirements for Fee Disclosure to Plan Fiduciaries and Participants-Applicability Dates ERISAProposed Rules (FR)Proposed Jun 1, 2011
aph (c)(1)(xii), by removing the date “July 16, 2011” and adding in its place “January 1, 2012”.
Signed at Washington, DC, this 26th day of May, 2011. Phyllis C. Borzi,
Assistant Secretary, Employee Benefits Security Administration, Department of Labor.
Footnotes
1.
The amendments to the Department's 404(c) regulation…