[Federal Register Volume 78, Number 31 (Thursday, February 14, 2013)]
[Notices]
[Pages 10639-10640]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-03463]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration

[Application Number D-11657]
ZRIN EBSA-2012-0015


Proposed Amendment to Prohibited Transaction Exemption 2006-06 
(PTE 2006-06) for Services Provided in Connection with the Termination 
of Abandoned Individual Account Plans

AGENCY: Employee Benefits Security Administration, U.S. Department of 
Labor.

ACTION: Notice of Extension of Comment Period for Proposed Amendment to 
PTE 2006-06.

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SUMMARY: The Department of Labor (the Department) is extending the 
comment period for a proposed amendment to PTE 2006-06, a prohibited 
transaction class exemption issued under the Employee Retirement Income 
Security Act of 1974 (ERISA). PTE 2006-06 provides an exemption for 
certain transactions entered into on behalf of individual account 
pension plans that have been abandoned by their sponsors.

DATES: Written comments and requests for a public hearing must be 
received by the Department on or before March 18, 2013.

ADDRESSES: All written comments and requests for a public hearing 
concerning the proposed amendment should be sent to the Office of 
Exemption Determinations, Employee Benefits Security Administration, 
Room N-5700, U.S. Department of Labor, 200 Constitution Avenue NW., 
Washington, DC 20210, Attention: PTE 2006-06 Amendment. Comments may be 
submitted electronically by using the Federal eRulemaking portal at 
www.regulations.gov (follow instructions for submission of comments). 
Interested persons are also invited to submit comments and hearing 
requests to EBSA via email to: [email protected] or by fax to 202-
219-0204 by the end of the scheduled comment period. The comments 
received will be available for public inspection in the Public 
Disclosure Room of the Employee Benefits Security Administration, U.S. 
Department of Labor, Room N-1513, 200 Constitution Avenue NW., 
Washington, DC 20210. Comments and hearing requests will also be 
available online at www.regulations.gov and www.dol.gov/ebsa, at no 
charge.
    All comments will be made available to the public. Warning: Do not 
include any personally identifiable information (such as name, address, 
or other contact information), or confidential business information, 
that you do not want publicly disclosed. All comments may be posted on 
the Internet and can be retrieved by most Internet search engines.

FOR FURTHER INFORMATION CONTACT: Chris Motta, Office of Exemption 
Determinations, Employee Benefits Security Administration, U.S. 
Department of Labor, (202) 693-8540 (this is not a toll-free number).

SUPPLEMENTARY INFORMATION: On December 12, 2012, the Department 
published a notice of the pendency before the Department of a proposed 
amendment to PTE 2006-06. The amendment to PTE 2006-06 was proposed in 
connection with the Department's proposed amendment of regulations 
relating to the Termination of Abandoned Individual Account Plans, the 
Safe Harbor for Distributions from Terminated Individual Account Plans, 
and the Special Terminal Report for Abandoned Plans. PTE 2006-06 
provides an exemption from the restrictions of ERISA section 
406(a)(1)(A) through (D), ERISA section 406(b)(1) and (b)(2) and from 
the taxes imposed by section 4975(a) and (b) of the Internal Revenue 
Code of 1986 (the Code), by reason of Code section 4975(c)(1)(A) 
through (E).
    The proposed amendment to PTE 2006-06 would expand the definition 
of a qualified termination administrator (a QTA) to include bankruptcy 
trustees and certain persons designated by such trustees to act as 
QTAs. The Department is proposing the amendment because it has 
determined that, in certain instances, it may be appropriate for a 
bankruptcy trustee to provide termination services to a plan.
    The comment period was scheduled to close on February 11, 2013. 
Notice of the right to comment was provided in the Federal Register on 
December 12, 2012. However, due to administrative error, a copy of the 
proposed amendment to PTE 2006-06 was not posted to www.regulations.gov 
until January 22, 2013. Accordingly, the Department is extending the 
comment

[[Page 10640]]

period for the proposed amendment to PTE 2006-06 to March 18, 2013.

    Signed at Washington, DC, this 8th day of February, 2013.
Lyssa E. Hall,
Director, Office of Exemption Determinations, Employee Benefits 
Security Administration, U.S. Department of Labor.
[FR Doc. 2013-03463 Filed 2-13-13; 8:45 am]
BILLING CODE 4510-29-P