[Federal Register Volume 79, Number 69 (Thursday, April 10, 2014)]
[Notices]
[Pages 19924-19928]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-07984]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
Exemptions From Certain Prohibited Transaction Restrictions
AGENCY: Employee Benefits Security Administration, Labor.
ACTION: Grant of Individual Exemptions.
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SUMMARY: This document contains exemptions issued by the Department of
Labor (the Department) from certain of the prohibited transaction
restrictions of the Employee Retirement Income Security Act of 1974
(ERISA or the Act) and/or the Internal Revenue Code of 1986 (the Code).
This notice includes the following: 2014-01, Bank of America
Corporation, D-11729; 2014-02, The ABB Inc. Cash Balance Pension Plan
(the Cash Balance Plan); the Cash Balance Pension Plan for Certain
Represented Employees of ABB Inc. (the Union Cash Balance Plan); the
Pension Plan for Employees of the Process Analytics Division of ABB
Inc. Represented by the Laborer's International Union of North America
(AFL-CIO), Local No. 1304 (the Process Analytics Plan); the Pension
Plan of Fischer & Porter Company (the Fischer & Porter Plan); and the
ABB Inc. Pension Plan (UE 625 & 626) (the UE 625 & 626 Plan) (each a
Plan, and collectively, the Plans), D-11742 thru D-11746 respectively;
and 2014-03, Intel Corporation (Intel), L-11760.
SUPPLEMENTARY INFORMATION: A notice was published in the Federal
Register of the pendency before the Department of proposals to grant
such exemptions. Each notice set forth a summary of facts and
representations contained in the application for exemption and referred
interested persons to the application for a complete statement of the
facts and representations. The application has been available for
public inspection at the Department in Washington, DC. The notice also
invited interested persons to submit comments on the requested
exemption to the Department. In addition the notice stated that any
interested person might submit a written request that a public hearing
be held (where appropriate). The applicant has represented that it has
complied with the requirements of the notification to interested
persons. No requests for a hearing were received by the Department.
Public comments were received by the Department as described in the
granted exemption.
The notice of proposed exemption was issued and the exemption is
being granted solely by the Department because, effective December 31,
1978, section 102 of Reorganization Plan No. 4 of 1978, 5 U.S.C. App. 1
(1996), transferred the authority of the Secretary of the Treasury to
issue exemptions of the type proposed to the Secretary of Labor.
Statutory Findings
In accordance with section 408(a) of the Act and/or section
4975(c)(2) of the Code and the procedures set forth in 29 CFR Part
2570, Subpart B (76 FR 66637, 66644, October 27, 2011) \1\ and based
upon the entire record, the Department makes the following findings:
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\1\ The Department has considered exemption applications
received prior to December 27, 2011 under the exemption procedures
set forth in 29 CFR Part 2570, Subpart B (55 FR 32836, 32847, August
10, 1990).
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(a) The exemption is administratively feasible;
(b) The exemption is in the interests of the plan and its
participants and beneficiaries; and
(c) The exemption is protective of the rights of the participants
and beneficiaries of the plan.
[[Page 19925]]
Bank of America Corporation
Located in Charlotte, NC
[Prohibited Transaction Exemption 2014-01; Application No. D-11729]
Exemption
Section I: Covered Transactions
The restrictions of ERISA sections 406(a)(1)(D) and 406(b) and the
sanctions resulting from the application of Code section 4975
(including the loss of exemption \2\ by reason of Code sections
4975(c)(1)(D), (E) and (F)) shall not apply to the receipt of
Relationship Benefits by an individual for whose benefit a Covered Plan
is established or maintained, or by his or her Family Members, from BAC
pursuant to an arrangement in which the Account Value of, or the Fees
incurred for services provided to, the Covered Plan is taken into
account for purposes of determining eligibility to receive such
Relationship Benefits, provided that each condition of Section II of
this exemption is satisfied.
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\2\ Pursuant to Code section 408(e)(2)(A)(for an individual
retirement account or individual retirement annuity); Code section
530(e) (for a Coverdell education savings account); Code section
220(e)(2) (for an Archer medical savings account); or Code section
223(e)(2) (for a health savings account).
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Section II: Conditions
(a) The Covered Plan whose Account Value, or whose Fees paid, are
taken into account for purposes of determining eligibility to receive
Relationship Benefits under the arrangement must be established and
maintained for the exclusive benefit of the participant covered under
the Covered Plan, his or her spouse, or their beneficiaries.
(b) The Relationship Benefits offered under the arrangement must be
of a type that a Qualified Affiliate could offer consistent with all
applicable federal and state banking laws and all applicable federal
and state laws regulating Broker-Dealers.
(c) Where Account Values are taken into account for purposes of
determining eligibility to receive benefits under the arrangement, the
Account Values of Covered Plan accounts shall be treated as favorably,
for purposes of satisfying such eligibility requirements, as the
Account Values of other types of customer accounts.
(d) Where levels of Fees incurred are taken into account for
purposes of determining eligibility to receive benefits under the
arrangement, the levels of Fees incurred by Covered Plan accounts shall
be treated as favorably, for purposes of satisfying such eligibility
requirements, as the levels of Fees incurred by other types of customer
accounts.
(e) The Relationship Benefits offered under the arrangement must be
provided by a Qualified Affiliate in the ordinary course of its
business as a Bank or Broker-Dealer to customers who qualify for such
benefits, but who do not maintain Covered Plans with a Qualified
Affiliate.
(f) The combined total of fees for the provision of services to a
Covered Plan is not in excess of reasonable compensation within the
meaning of ERISA section 408(b)(2) and Code section 4975(d)(2).
(g) The investment performance of the investments made by the
Covered Plan is no less favorable than the investment performance of
identical investments that could have been made at the same time by a
customer of BAC who is not eligible for (or who does not receive)
Relationship Benefits.
(h) The Relationship Benefits offered under the arrangement to the
Covered Plan customer must be the same as are offered to non-Covered
Plan customers of Qualified Affiliates having the same aggregate
Account Value or the same amount of Fees generated.
Section III: Definitions
The following definitions apply to this exemption:
(a) The term ``Account Value'' means investments in cash or
securities held in the account for which market quotations are readily
available. For purposes of the exemption, the term ``cash'' includes
savings accounts that are insured by a federal deposit insurance agency
and constitute deposits as that term is defined in 29 CFR 2550.408b-
4(c)(3). The term ``Account Value'' does not include investments that
are offered by BAC (or a Qualified Affiliate) exclusively to Covered
Plans.
(b) The term ``affiliate'' includes any person directly or
indirectly controlling, controlled by, or under common control with
Bank of America Corporation.
(c) The term ``Bank'' means a bank described in Code section
408(n).
(d) The term ``BAC'' means Bank of America Corporation and any of
its affiliates.
(e) The term ``Broker-Dealer'' means a broker-dealer registered
under the Securities Exchange Act of 1934, as amended.
(f) The term ``control'' means the power to exercise a controlling
influence over the management or policies of a person other than an
individual.
(g) The term ``Covered Plan'' means an IRA or other savings account
described in section III(j) of this exemption or a Keogh Plan described
in section III(k) of this exemption that is established with BAC as
trustee or custodian.
(h) The term ``Family Members'' means beneficiaries of the
individual for whose benefit the Covered Plan is established or
maintained, who would be members of the family as that term is defined
in Code section 4975(e)(6), or a brother, a sister, or a spouse of a
brother or sister.
(i) The term ``Fees'' means commissions and other fees received by
a Broker-Dealer from the Covered Plan for the provision of services,
including but not limited to: Brokerage commissions, investment
management fees, investment advisory fees, custodial fees, and
administrative fees.
(j) The term ``IRA'' means an individual retirement account
described in Code section 408(a), an individual retirement annuity
described in Code section 408(b), a Coverdell education savings account
described in Code section 530, an Archer MSA described in Code section
220(d), or a health savings account described in Code section 223(d).
For purposes of this exemption, the term ``IRA'' does not include an
employee benefit plan covered by Title I of ERISA, except for a
Simplified Employee Pension (SEP) described in Code section 408(k) and
a Simple Retirement Account described in Code section 408(p) that
provides participants with the unrestricted authority to transfer their
balances to IRAs or Simple Retirement Accounts sponsored by different
financial institutions.
(k) The term ``Keogh Plan'' means a pension, profit-sharing, or
stock bonus plan qualified under Code section 401(a) and exempt from
taxation under Code section 501(a) under which some or all of the
participants are employees described in Code section 401(c). For
purposes of this exemption, the term ``Keogh Plan'' does not include an
employee benefit plan covered by Title I of ERISA.
(l) The term ``Qualified Affiliate'' means any person directly or
indirectly controlling, controlled by, or under common control with BAC
that is a Bank or Broker-Dealer.
(m) The term ``Relationship Benefits'' means reduced or no cost
financial products and services, including premium rates of account or
investment interest, discounted rates of interest on loans, reductions
or waivers of otherwise applicable fees and charges, and/or
differentiated servicing.
[[Page 19926]]
Written Comments
The Department invited all interested persons to submit written
comments and/or requests for a public hearing with respect to the
notice of proposed exemption, published on November 6, 2013, at 78 FR
66769. All comments and requests for hearing were due by December 21,
2013. During the comment period, the Department received no comments
and no requests for a hearing from interested persons. Accordingly,
after giving full consideration to the entire record, the Department
has decided to grant the exemption. The complete application file
(Application No. D-11729), including all supplemental submissions
received by the Department, is available for public inspection in the
Public Disclosure Room of the Employee Benefits Security
Administration, Room N-1513, U.S. Department of Labor, 200 Constitution
Avenue NW., Washington, DC 20210.
For a more complete statement of the facts and representations
supporting the Department's decision to grant this exemption, refer to
the notice of proposed exemption published on November 6, 2013, at 78
FR 66769.
FOR FURTHER INFORMATION CONTACT: Mr. Erin S. Hesse of the Department,
telephone (202) 693-8546. (This is not a toll-free number.)
The ABB Inc. Cash Balance Pension Plan (the Cash Balance Plan); the
Cash Balance Pension Plan for Certain Represented Employees of ABB Inc.
(the Union Cash Balance Plan); the Pension Plan for Employees of the
Process Analytics Division of ABB Inc. Represented by the Laborer's
International Union of North America (AFL-CIO), Local No. 1304 (the
Process Analytics Plan); the Pension Plan of Fischer & Porter Company
(the Fischer & Porter Plan); and the ABB Inc. Pension Plan (UE 625 &
626) (the UE 625 & 626 Plan) (each a Plan, and collectively, the Plans)
Located in Cary, NC
[Prohibited Transaction Exemption 2014-02; Application Nos. D-11742
thru D-11746 respectively]
Exemption
The restrictions of sections 406(a)(1)(A) and 406(b)(1) and (b)(2)
of ERISA and the sanctions resulting from the application of section
4975(c)(1)(A) and (E) of the Code,\3\ shall not apply, to the in-kind
contribution (the Contribution) of certain U.S. Treasury Bills (the
Securities) to the Plans by ABB Inc., a party in interest with respect
to the Plans, on September 14, 2012, provided that the following
conditions are satisfied:
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\3\ For purposes of this exemption, references to the provisions
of Title I of ERISA, unless otherwise specified, refer also to the
corresponding provisions of the Code.
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(a) The fair market value of the Securities was determined by ABB
Inc. based on the closing price of the Securities on the date of
Contribution (the Contribution Date) as quoted by Bloomberg L.P., an
independent third party in the business of providing financial data;
(b) The Securities represented less than 12% of the assets of any
Plan;
(c) The terms of the Contribution were no less favorable to the
Plans than those negotiated at arm's length under similar circumstances
between unrelated parties;
(d) The Plans paid no commissions, costs or fees with respect to
the Contribution; and
(e) ABB Inc. reviewed the methodology used to value the Securities
and ensured that the Plans received the fair market value of the
Securities.
Effective Date: This exemption is effective as of September 14,
2012.
Written Comments
The Department invited all interested persons to submit written
comments and/or requests for a public hearing with respect to the
notice of proposed exemption (the Notice) on or before September 5,
2013. During the comment period, the Department received two written
comments which generally involved matters outside the scope of the
proposed exemption. The Department also received one written comment
from ABB Inc. (the Applicant). The Applicant's comment and the
Department's response thereto are described below.\4\
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\4\ Capitalized terms not defined herein have the meanings
ascribed to them in the facts and representations of the proposed
exemption.
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Applicant's Comment
The Applicant's comment generally provided clarifications and/or
updates of the names of certain corporate entities of ABB Inc. and the
Plans' actuary, the number of employees of ABB Inc., and the numbers of
participants and beneficiaries of the Plans. In this regard, Paragraph
1 of the Facts and Representations section of the Notice (the F&R)
describes ABB Inc. as the U.S. subsidiary of Asea Brown Boveri Ltd.,
and further describes ABB Inc. as employing approximately 20,000
employees in the U.S. The Applicant clarifies that ABB Inc. is the
indirect U.S. subsidiary of ABB Ltd., and that ABB Inc. employs
approximately 8,000 individuals in the U.S. Paragraphs 2 and 7 of the
F&R describe the risk management team that advises the ABB Inc. Pension
Review Committee with respect to the investment of the assets in the
ABB Inc. Master Trust as the Pension and Risk Management Committee. The
Applicant clarifies that this entity is called Pension and Thrift
Management. Section 2 of the F&R describes the Plans' actuary as Towers
Watson. The Applicant clarifies that the actuary for each of the Plans
is Towers Watson Delaware Holdings, Inc. The Department takes note of
the Applicant's clarifications to Paragraphs 1, 2, and 7 of the F&R.
Paragraph 1 of the F&R provides the participant counts for each of
the Plans as of June 26, 2012, as that was the most recent audited
information available at the time of the proposed exemption. The
Applicant's comment provides an updated participant count for the Plans
as of December 31, 2012, as follows: The Cash Balance Plan has 15,796
participants and beneficiaries; the Union Cash Balance Plan has 701
participants and beneficiaries; the Process Analytics Plan has 162
participants and beneficiaries; the Fischer & Porter Plan has 1,380
participants and beneficiaries; and the UE 625 & 626 Plan has 218
participants and beneficiaries. The Department takes note of the
Applicant's update to the numbers of participants and beneficiaries of
the Plans in Paragraph 1 of the F&R.
The Applicant also provided a correction to the table in Paragraph
9 of the F&R that describes the increase in the estimated AFTAP for
each Plan that occurred as a result of the Contribution. In this
regard, the Applicant states that the table provided the correct AFTAP
amounts but attributed such amounts to the incorrect Plans, and that
the following table correctly reflects the AFTAP amounts for each Plan:
[[Page 19927]]
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Estimated AFTAP
without AFTAP with Increase in
discounted discounted AFTAP due to
Plan securities securities securities
contribution contribution contribution
(percent) (percent)
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Cash Balance Plan......................................... 110.44 112.29 1.85
Union Cash Balance Plan................................... 112.35 113.72 1.37
Process Analytics Plan.................................... 111.74 120.39 8.65
UE 625 & 626 Plan......................................... 109.09 121.70 12.61
Fischer & Porter Plan..................................... 112.78 114.16 1.38
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The Department notes the changes to the table in Paragraph 9 of the F&R
and a conforming change to Paragraph 12 as well.
Finally, the Applicant seeks to clarify that Paragraph 10 of the
Summary of F&R, should read that the Contribution may have violated
sections 406(b)(1) and (2) of the Act. The Department acknowledges this
clarification.
After giving full consideration to the entire record, including the
written comment, the Department has decided to grant the exemption, as
described above. The complete application file is available for public
inspection in the Public Disclosure Room of the Employee Benefits
Security Administration, Room N-1513, U.S. Department of Labor, 200
Constitution Avenue NW., Washington, DC 20210.
For a more complete statement of the facts and representations
supporting the Department's decision to grant this exemption, refer to
the proposed exemption published in the Federal Register on July 22,
2013, at 78 FR 43935.
FOR FURTHER INFORMATION CONTACT: Ms. Jennifer Erin Brown of the
Department at (202) 693-8352. (This is not a toll-free number.)
Intel Corporation (Intel)
Located in Santa Clara, CA
[Prohibited Transaction Exemption 2014-03; Exemption Application No. L-
11760]
Exemption
Section I. Transactions
The restrictions of sections 406(a)(1)(D) and 406(b) of the Act
shall not apply, effective January 1, 2013, to:
(a) The reinsurance of risks and the receipt of premiums therefrom
by Technology Assurance Limited (TAL), an affiliate of Intel, as the
term ``affiliate'' is defined in Section III(a) below, in connection
with basic and supplemental group term life insurance sold by the
Minnesota Life Insurance Company (MN Life), or any successor insurance
company which is unrelated to Intel (the Fronting Insurer), to the
Intel Group Life Insurance Plan (the Life Plan); and
(b) The reinsurance of risks and the receipt of premiums therefrom
by TAL, in connection with basic and supplemental accidental death and
dismemberment (AD&D) insurance sold by the Fronting Insurer to the
Intel Group Accidental Death and Dismemberment Plan (the AD&D Plan);
\5\ provided the conditions set forth in Section II, below, are
satisfied.
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\5\ The AD&D Plan and the Life Plan are together referred to
herein as the ``Plans.''
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Section II. Conditions
(a) TAL---
(1) Is a party in interest with respect to the Plans by reason of a
stock or partnership affiliation with Intel that is described in
section 3(14)(E) or 3(14)(G) of the Act;
(2) Is licensed to sell insurance or conduct reinsurance operations
in at least one ``State,'' as defined in section 3(10) of the Act;
(3) Has obtained a Certificate of Authority from the Hawaii
Department of Insurance, which has neither been revoked nor suspended;
(4)(A) Has undergone an examination by an independent certified
public accountant for its last completed taxable year immediately prior
to the taxable year of the reinsurance transaction covered by this
exemption; or
(B) Has undergone a financial examination by the HIDOI within five
(5) years prior to the end of the year preceding the year in which such
reinsurance transaction has occurred; and
(5) Is licensed to conduct reinsurance transactions by Hawaii,
whose law requires that an actuarial review of reserves be conducted
annually by an independent firm of actuaries and reported to the
appropriate regulatory authority.
(b) The Plans pay no more than adequate consideration for the
insurance contracts.
(c) No commissions are paid by the Plans with respect to the direct
sale of such contracts or the reinsurance thereof.
(d) In the initial year of every reinsurance contract involving TAL
and a Fronting Insurer, there is an immediate and objectively
determined benefit to participants and beneficiaries of the Plans in
the form of increased benefits, and such benefits continue in all
subsequent years of each such contract of reinsurance and in every
renewal of each such contract, and will at least approximate the
increase in benefits that will be effective as of January 1, 2013, as
described in the Notice of Proposed Exemption (the Notice).
(e) In the initial year and in subsequent years of coverage
provided by a Fronting Insurer, the formula used by the Fronting
Insurer to calculate premiums will be similar to formulae used by other
insurers providing comparable coverage under similar programs.
Furthermore, the premium charge calculated in accordance with the
formula will be reasonable and will be comparable to the premium
charged by the Fronting Insurer and its competitors with the same or a
better rating providing the same coverage under comparable programs.
(f) The Fronting Insurer has a financial strength rating of ``A''
or better from A. M. Best Company. The reinsurance arrangement between
the Fronting Insurer and TAL will be indemnity insurance only, (i.e.,
the Fronting Insurer will not be relieved of liability to the Plans
should TAL be unable or unwilling to cover any liability arising from
the reinsurance arrangement).
(g) The Plans retain an independent, qualified fiduciary (the I/F)
or successor to such fiduciary, as defined in Section III(c), below, to
analyze the transactions and to render an opinion that the requirements
of Section II(a) through (f) and (h) of this exemption have been
satisfied.
(h) Participants and beneficiaries in the Plans will receive in
subsequent years of every contract of reinsurance involving TAL and the
Fronting Insurer no less than the immediate and objectively determined
increased benefits such participants and
[[Page 19928]]
beneficiaries received in the initial year of each such contract
involving TAL and the Fronting Insurer.
(i) The I/F will: Monitor the transactions described herein on
behalf of the Plans on a continuing basis to ensure such transactions
remain in the interest of the Plans; take all appropriate actions to
safeguard the interests of the Plans; and enforce compliance with all
conditions and obligations imposed on any party dealing with the Plans.
(j) In connection with the provision to participants in the Plans
of the insurance coverage provided by the Fronting Insurer which is
reinsured by TAL, the I/F will review all contracts (and any renewal of
such contracts) of the reinsurance of risks and the receipt of premiums
therefrom by TAL and must determine that the requirements of this
exemption, and the terms of the increased benefits continue to be
satisfied.
Section III. Definitions
(a) The term ``affiliate'' of a person includes any person directly
or indirectly, through one or more intermediaries, controlling,
controlled by, or under common control with the person;
(b) The term ``control'' means the power to exercise a controlling
influence over the management or policies of a person other than an
individual.
(c) The term ``I/F'' describes a person, or a successor to such
person, who is not Intel or TAL or an affiliate of either entity; and:
(1) Does not have an ownership interest in Intel, in TAL, or in an
affiliate of either;
(2) Is not a fiduciary with respect to the Plans prior to its
appointment to serve as the I/F;
(3) Has acknowledged in writing acceptance of fiduciary
responsibility and has agreed not to participate in any decision with
respect to any transaction in which it has an interest that might
affect its best judgment as a fiduciary; and
(4) Has appropriate training, experience, and facilities to act on
behalf of the Plans regarding the subject transactions in accordance
with the fiduciary duties and responsibilities prescribed by the Act.
For purposes of this definition of an ``I/F,'' no organization or
individual may serve as an I/F for any fiscal year if the gross income
received by such organization or individual (or partnership or
corporation of which such individual is an officer, director, or 10
percent or more partner or shareholder) for that fiscal year exceeds
two percent (2%) of that organization's or individual's annual gross
income from all sources for the prior fiscal year from Intel or from
TAL, or from an affiliate of either (including amounts received for
services as I/F under any prohibited transaction exemption granted by
the Department).
In addition, no organization or individual who is an I/F, and no
partnership or corporation of which such organization or individual is
an officer, director, or 10 percent (10%) or more partner or
shareholder, may acquire any property from, sell any property to, or
borrow any funds from Intel or from TAL, or from any affiliate of
either during the period that such organization or individual serves as
an I/F, and continuing for a period of six (6) months after such
organization or individual ceases to be the I/F, or negotiates any such
transaction during the period that such organization or individual
serves as the I/F.
In the event a successor I/F is appointed to represent the
interests of the Plans with respect to the subject transactions, there
may be no lapse in time between the resignation or termination of the
former I/F and the appointment of the successor I/F.
Effective Date: This exemption is effective as of January 1, 2013.
Written Comments
In the Notice, the Department invited all interested persons to
submit written comments and requests for a hearing within 50 days of
the date of the publication on November 6, 2013, of the Notice in the
Federal Register. The Notice stated that all comments and requests for
a hearing were due by December 26, 2013. In an email dated December 4,
2013, Intel's representative confirmed that the required notification
was sent to all interested persons via email and/or first class mail no
later than November 15, 2013.
During the comment period, the Department received no requests for
a hearing. In addition, the Department did not receive any written
comments.
After full consideration and review of the entire record, the
Department has decided to grant the exemption. The complete application
file (L-11760) is available for public inspection in the Public
Disclosure Room of the Employee Benefits Security Administration, Room
N-1513, U.S. Department of Labor, 200 Constitution Avenue NW.,
Washington, DC 20210.
FOR FURTHER INFORMATION CONTACT: Blessed Chuksorji-Keefe of the
Department, telephone (202) 693-8567. (This is not a toll-free number.)
General Information
The attention of interested persons is directed to the following:
(1) The fact that a transaction is the subject of an exemption
under section 408(a) of the Act and/or section 4975(c)(2) of the Code
does not relieve a fiduciary or other party in interest or disqualified
person from certain other provisions to which the exemption does not
apply and the general fiduciary responsibility provisions of section
404 of the Act, which among other things require a fiduciary to
discharge his duties respecting the plan solely in the interest of the
participants and beneficiaries of the plan and in a prudent fashion in
accordance with section 404(a)(1)(B) of the Act; nor does it affect the
requirement of section 401(a) of the Code that the plan must operate
for the exclusive benefit of the employees of the employer maintaining
the plan and their beneficiaries;
(2) These exemptions are supplemental to and not in derogation of,
any other provisions of the Act and/or the Code, including statutory or
administrative exemptions and transactional rules. Furthermore, the
fact that a transaction is subject to an administrative or statutory
exemption is not dispositive of whether the transaction is in fact a
prohibited transaction; and
(3) The availability of an exemption is subject to the express
condition that the material facts and representations contained in the
application accurately describes all material terms of the transaction
which is the subject of the exemption.
Signed at Washington, DC, this 27th day of March, 2014.
Lyssa E. Hall,
Acting Director of Exemption Determinations, Employee Benefits Security
Administration, U.S. Department of Labor.
[FR Doc. 2014-07984 Filed 4-9-14; 8:45 am]
BILLING CODE 4510-29-P