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…
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…
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…
DOL EBSA (final agency order) — USDOL, EMPLOYEE BENEFITS SECURITY ADMINISTRATION v. WORLD MANAGEMENT, INC., Order of Dismissal (ALJ Feb. 20, 2024) (Rosenow) PDF 2018-RIS-53 USDOL, EMPLOYEE BE… ERISACourt RulingsJan 26, 2021
eport.
TAG Resources had 45 days to correct the deficiency , but did not file an amended 2015 Form
5500 containing the IQPA report within that period. On May 1, 2017, EBSA issued TAG Resources a Notice of Intent to Assess a Penalty
(“NOI”) setting the proposed penalty amount of $41,100, calculated on the basis of $150 …
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…
ERISACourt RulingsNov 10, 2015
…Complainant filed a Motion to
Dismiss (“Motion”) based on lack of subject matter jurisdiction and a Memorandum in Support
of the Motion to Dismiss (“ Memo in Support ”) . Respondent filed a R esponse to Complainant’s
Motion to Dismiss Respondent’s Request for Hearing and Answer (“Respons e”) on September
29, 2015.
3
Co…
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…
82 FR 7336 — Proposed Best Interest Contract Exemption for Insurance Intermediaries ERISAProposed Rules (FR)Proposed Jan 19, 2017
…o the upside of the market and effectively transfer investment risks from insurers to investors. In 2015, FIA sales totaled a record high $54.5 billion, which represents a 13% increase from sales of $48.2 billion in 2014.[50]
This upward trend in FIA sales continued in 2016. In the first-half of 2016, FIA sales increas…
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).
Back to Citation
15.
See
Advisory Opinion 2011-08A (June 21, 2011).
Back to Citation
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…
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, 2016★ strong match
…cation of PTE 84-24. The proposals initially provided for 75-day comment periods, ending on July 6, 2015, but the Department extended the comment periods to July 21, 2015. The Department then also held four days of public hearings on the new regulatory package, including the proposed exemptions, in Washington, DC from …
88 FR 75890 — Retirement Security Rule: Definition of an Investment Advice Fiduciary ERISAProposed Rules (FR)Proposed Nov 3, 2023
…de additional comments. That proposal was withdrawn, and the Department issued a second proposal in 2015 along with related proposed prohibited transaction exemptions and proposed amendments to existing exemptions. 80 FR 21928 (Apr. 20, 2015). The 2015 proposal and proposed related exemptions initially provided for 75-…
86 FR 57272 — Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights ERISAProposed Rules (FR)Proposed Oct 14, 2021
…, the Department replaced IB 94-1 with Interpretive Bulletin 2008-01 (IB 2008-01),[10]
and then, in 2015, the Department replaced IB 2008-01 with Interpretive Bulletin 2015-01 (IB 2015-01).[11]
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, 2023related by meaning
, including as part of a comment responding to the broader proposal. Comments are due by January 2, 2024 to ensure their consideration.
PRA Addressee: Address requests for copies of the ICR to James Butikofer, Office of Research and Analysis, U.S. Department of Labor, Employee Benefits Security Administration, 200 Cons…
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…
88 FR 75979 — Proposed Amendment to Prohibited Transaction Exemption 2020-02 ERISAProposed Rules (FR)Proposed Nov 3, 2023related by meaning
at fact. This description must be written in plain English, taking into consideration a Retirement Investor's level of financial
( printed page 75985) experience. As explained previously in the preamble to final PTE 2020-02 published in 2020, the Department anticipates Financial Institutions are able to satisfy this di…
85 FR 2292 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2020 ERISAFinal Rules (FR)Jan 15, 2020
2017
August 1, 2016 levels.
After November 2, 2015
After March 17, 2017 but on or before January 2, 2018
March 17, 2017 levels.
After November 2, 2015 After January 2, 2018 but on or before January 23, 2019
January 2, 2018 levels.
After November 2, 2015
After January 23, 2019 but on or before January 15, 2020
January 2…
81 FR 47534 — Proposed Revision of Annual Information Return/Reports ERISAProposed Rules (FR)Proposed Jul 21, 2016
…al and governance (“ESG”) factors under appropriate circumstances, and issued Interpretive Bulletin 2015-01, 29 CFR 2509.2015-1 (IB-2015-1). IB-2015-1 confirmed the DOL's longstanding view from IB 94-1 that fiduciaries may not accept lower expected returns or take on greater risks in order to secure collateral benefits…
89 FR 32302 — Amendment to Prohibited Transaction Exemption 84-24 ERISAFinal Rules (FR)Apr 25, 2024related by meaning
s, the Department has determined that the recordkeeping provisions for advice under PTE 84-24 should be narrowed consistent with those in PTE 2020-02. Although the proposed broader recordkeeping condition was consistent with other exemptions, the Department understands commenters' concerns about broader access to the d…
ERISADOL Technical ReleasesFeb 5, 2016
…d HHS (www.cms.gov/CCIIO/Resources/Fact-Sheets-and-FAQs/Downloads/FAQs-Part-XXII-FINAL.pdf); Notice 2015-17, 2015-14 I.R.B. 845, issued by Treasury and IRS on February 18, 2015, and Notice 2015-87, 2015-52 I.R.B. 889, Q&A-1 to Q&A-6, issued by Treasury and IRS on December 16, 2015.
See 45 CFR 147.145.
84 FR 213 — Department of Labor Federal Civil Penalties Inflation Adjustment Act Annual Adjustments for 2019 ERISAFinal Rules (FR)Jan 23, 2019
… Program
Violations occurring Penalty assessed
Which penalty level applies
On or before November 2, 2015
On or before August 1, 2016
Pre-August 1, 2016 levels.
On or before November 2, 2015
After August 1, 2016
Pre-August 1, 2016 levels.
After November 2, 2015
After August 1, 2016, but on or before March 17, 2017
Augus…