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Archived News Release--Caution:
information may be out of date.
For more information call: (202) 219-8921
The U.S. Department of Labor's Pension and Welfare
Benefits Administration today announced the publication of a notice proposing
to eliminate from the Code of Federal Regulations a number of obsolete
regulations issued under the Employee Retirement Income Security Act
(ERISA).
"This action is being undertaken as part of the
department's response to the president's executive order directing federal
agencies to identify and eliminate unnecessary regulations," said Olena Berg,
assistant secretary of the Pension and Welfare Benefits Administration.
The obsolete regulations proposed for removal from the
Code of Federal Regulations include a number of provisions which provided
transitional relief and guidance for plan sponsors, fiduciaries and others
shortly after ERISA was enacted in 1974. Also included in the notice is the
proposed removal of paragraph (b) of Interpretive Bulletin No. 75-2, which no
longer has any force or effect following the Supreme Court's 1993 decision in
John Hancock Mutual Life Insurance Co. v. Harris Trust & Savings Bank.
All written comments on the proposal should be sent to the
Pension and Welfare Benefits Administration, Office of Regulations and
Interpretations, Room N-5669, 200 Constitution Ave., N.W., Washington D.C.
20010. This notice and all comments received will be available for public
inspection in the Public Disclosure Room, PWBA, Rm. N-5638, at the above
address.
The proposal is scheduled to be published in the April 3
Federal Register. The proposal will also be available on the Internet at
http://www.dol.gov/dol/pwba, see "What's New in PWBA."
Archived News Release--Caution:
information may be out of date.
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