[Federal Register Volume 82, Number 123 (Wednesday, June 28, 2017)]
[Rules and Regulations]
[Pages 29236-29237]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-13459]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
29 CFR Part 2510
RIN 1210-AB76
Definition of Employee Pension Benefit Plan Under ERISA
AGENCY: Employee Benefits Security Administration, Department of Labor.
ACTION: Final rule; CRA Revocation.
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SUMMARY: Under the Congressional Review Act, Congress has passed, and
the President has signed resolutions of disapproval of Savings
Arrangements Established by States for Non-Governmental Employees and
Savings Arrangements Established by Qualified State Political
Subdivisions for Non-Governmental Employees, as codified in the Code of
Federal Regulations. The Employee Benefits Security Administration
(EBSA) published these final rules in 2016, effective October 31, 2016
and January 19, 2017, respectively. Because these resolutions
invalidate these final rules, EBSA is hereby removing these final rules
from the Code of Federal Regulations.
DATES: This action is effective June 28, 2017.
FOR FURTHER INFORMATION CONTACT: Jeffrey J. Turner, Office of
Regulations and Interpretations, Employee Benefits Security
Administration, (202) 693-8500. This is not a toll-free number.
SUPPLEMENTARY INFORMATION: On August 30, 2016, the Department issued a
final rule entitled Savings Arrangements Established by States for Non-
Governmental Employees (81 FR 59464, Aug. 30, 2016). The final rule,
which became effective on October 31, 2016, amended an existing rule
defining ``employee pension benefit plans'' for purposes of ERISA (29
CFR part 2510, Sec. 2510.3-2) in order to add a safe harbor for
certain state-established savings arrangements. Subsequently, on
December 20, 2016, the Department issued another final rule entitled
Savings Arrangements Established by Qualified State Political
Subdivisions for Non-Governmental Employees (81 FR 92639, Dec. 20,
2016), which amended the August 30, 2016, final rule to expand the safe
harbor to savings
[[Page 29237]]
arrangements established by qualified state political subdivisions. The
December 20, 2016, final rule became effective on January 19, 2017. (81
FR 59464, Aug. 30, 2016).
On February 15, 2017, the United States House of Representatives,
under authority of the Congressional Review Act (5 U.S.C. 801 et seq.),
passed joint resolution H.J. Res. 66 disapproving the August 30, 2016,
final rule published in 81 FR 59464. (Cong. Rec. p. H1206-1218.) The
Senate passed H.J. Res. 66 on May 3, 2017. (Cong. Rec. p. S2692-2712.)
President Trump signed the resolution into law on May 17, 2017, as
Public Law 115-35. Also on February 15, 2017, the United States House
of Representatives, under authority of the Congressional Review Act,
passed joint resolution H.J. Res. 67 disapproving the December 20,
2016, final rule published in 81 FR 92639. (Cong. Rec. p. H1218.) The
Senate passed H.J. Res. 67 on March 30, 2017 (Cong. Rec. p. S2121-
2122.), and President Trump signed it into law on April 13, 2017, as
Public Law 115-24. Accordingly, as required by Public Law 115-35 and
Public Law 115-24, the Department is hereby revising the Code of
Federal Regulations to reflect Congress's disapproval of both final
rules.
List of Subjects in 29 CFR Part 2510
Accounting, Coverage, Employee benefit plans, Employee Retirement
Income Security Act, Pensions, Reporting.
For the reasons stated above and under the authority of the
Congressional Review Act (5 U.S.C. 801 et seq.), Public Law 115-35 (May
17, 2017), and Public Law 115-24 (April 13, 2017), the Department of
Labor amends 29 CFR part 2510 as follows:
PART 2510--DEFINITIONS OF TERMS USED IN SUBCHAPTERS C, D, E, F, G,
AND L OF THIS CHAPTER
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1. The authority citation for part 2510 continues to read as follows:
Authority: 29 U.S.C. 1002(2), 1002(21), 1002(37), 1002(38),
1002(40), 1031, and 1135; Secretary of Labor's Order No. 1-2011, 77
FR 1088 (Jan. 9, 2012); Secs. 2510.3-21, 2510.3-101 and 2510.3-102
also issued under sec. 102 of Reorganization Plan No. 4 of 1978, 5
U.S.C. App. at 237 (2012), E.O. 12108, 44 FR 1065 (Jan. 3, 1979) and
29 U.S.C. 1135 note. Sec. 2510.3-38 is also issued under sec. 1,
Pub. L. 105-72, 111 Stat. 1457 (1997).
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2. Amend Sec. 2510.3-2 by revising paragraph (a) and removing
paragraph (h) to read as follows:
Sec. 2510.3-2 Employee pension benefit plan.
(a) General. This section clarifies the limits of the defined terms
``employee pension benefit plan'' and ``pension plan'' for purposes of
Title I of the Act and this chapter by identifying certain specific
plans, funds and programs which do not constitute employee pension
benefit plans for those purposes. To the extent that these plans, funds
and programs constitute employee welfare benefit plans within the
meaning of section 3(1) of the Act and Sec. 2510.3-1, they will be
covered under Title I; however, they will not be subject to parts 2 and
3 of Title I of the Act.
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Signed at Washington, DC, this 22nd day of June, 2017.
Timothy D. Hauser,
Deputy Assistant Secretary for Program Operations, Employee Benefits
Security Administration, Department of Labor.
[FR Doc. 2017-13459 Filed 6-27-17; 8:45 am]
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