[Federal Register Volume 87, Number 15 (Monday, January 24, 2022)]
[Notices]
[Page 3588]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01236]



[[Page 3588]]

=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF LABOR

Employee Benefits Security Administration

[Exemption Application No. D-12002]


Withdrawal of Notice of Proposed Exemption Involving the 
Retirement System of the American National Red Cross Located in 
Washington, DC

AGENCY: Employee Benefits Security Administration, Labor.

ACTION: Notice of withdrawal of proposed exemption.

-----------------------------------------------------------------------

SUMMARY: This document provides withdrawal of a notice of pendency 
before the Department of Labor (the Department) of a proposed 
individual exemption from certain of the prohibited transaction 
restrictions of the Employee Retirement Income Security Act of 1974 
(ERISA) and/or the Internal Revenue Code of 1986 (the Code).

FOR FURTHER INFORMATION CONTACT: Anna Vaughan of the Department at 
(202) 693-8565. (This is not a toll-free number.)

Withdrawal of Proposed Exemption

    In the Federal Register dated November 18, 2021 (86 FR 64688), the 
Department of Labor (the Department) published a notice of proposed 
exemption (the Notice) from ERISA and the Code.
    The Notice proposed the following transactions: (a) The in-kind 
contribution (the Contribution) by the American National Red Cross (the 
Red Cross) of nine condominium units located at 2025 E Street NW, 
Washington DC to the Retirement System of The American National Red 
Cross (the Plan); and (b) the assignment of certain rights and 
obligations from the Red Cross to the Plan in connection with the 
Contribution.
    Subsequent to the publication of the Notice in the Federal 
Register, the Red Cross informed the Department that the Red Cross had 
decided not to pursue the requested exemption, due to changed 
circumstances.
    Therefore, under the authority of ERISA Section 408(a) and Code 
Section 4975(c)(2) the Department is hereby withdrawing the Notice from 
the Federal Register.

    Signed at Washington, DC.
George Christopher Cosby,
Acting Director, Office of Exemption Determinations, Employee Benefits 
Security Administration, U.S. Department of Labor.
[FR Doc. 2022-01236 Filed 1-21-22; 8:45 am]
BILLING CODE 4510-29-P