Prior exemptions may not reflect current policies or procedures. The Department, for example, may require terms and conditions that were not required in prior exemptions. Persons considering filing for an exemption or EXPRO authorization may find it very helpful to discuss the facts or issues in their cases with the Department before preparing the filing. The Department welcomes all inquiries and is available to answer any questions you may have. Call us at 202-693-8540.
Edward D. Jones & Co., L.P. (the Applicant)
Permits the extension of credit to the Applicant by certain individual retirement accounts (the IRAs) whose assets are held in custodian accounts by the Applicant, a party in interest and a disqualified person with respect to the IRAs, in connection with the Applicant's use of uninvested IRA cash balances in such accounts.
Pennsylvania Institute of Neurological Disorders, Inc. Profit Sharing Plan (the Plan)
Permits the proposed sale by the Plan of a parcel of unimproved real property known as Lot 20, Section “F”, Monroe Manor, Inc., to Mahmood Nasir, M.D., a party in interest with respect to the Plan.
The Zieger Health Care Corporation Retirement Fund (the Plan)
Permits (1) the in-kind contribution and transfer to the Plan by Zieger Health Care Corporation (ZHCC), acting through its wholly-owned subsidiary, Botsford General Hospital (the Hospital), both of which are parties in interest with respect to the Plan, of the Hospital’s right, title and interest in five (5) limited liability corporations (collectively, the LLCs or individually an LLC) where the sole asset of each such LLC is one of five (5) parcels of improved real property situated in southern Michigan (individually, an Underlying Property, collectively, the Properties); (2) the holding by the Plan of ownership interests in the LLCs that own the Properties; (3) the leaseback by the Plan to the Hospital of the Underlying Property held by each of the LLCs (individually, the Leases or collectively, the Leases); (4) the sale of an Underlying Property (or ownership interest in an LLC, as the case may be) by the Plan to ZHCC or its affiliates, pursuant to a right of first offer (the RFO), as described in each Lease, at any time during the term of such Lease; and (5) any payment or payments to the Plan by the Hospital, pursuant to contingent rent payments, as described in each Lease, during the term of such Lease.
The Donlar Corporation Profit Sharing Plan (the Plan)
Permits, in connection with the termination of the Plan, the cash sale of a parcel of improved real property owned by the Plan to Mr. Donald A. Kainz, a party in interest with respect to the Plan.
Anchorage Area Pipe Trades 367 Joint Apprenticeship Committee (the Plan)
Permits the proposed loan to the Plan, to finance a training facility constructed by the Plan, in the amount of $750,000, by the Local No. 367 of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States and Canada, a party in interest with respect to the Plan.
Harris Nesbitt Corporation (Harris Nesbitt) and Its Affiliates (the Affiliates)
Permits, effective October 15, 2004 (1) the direct or indirect sale, exchange or transfer of securities in the initial issuance of securities between the sponsor or underwriter and an employee benefit plan when the sponsor, servicer, trustee or insurer of an issuer, the underwriter of the securities representing an interest in the issuer, or an obligor is a party in interest with respect to such plan; (2) the direct or indirect acquisition or disposition of securities by a plan in the secondary market for such securities; and (3) the continued holding of securities acquired by a plan. Also permits, effective October 15, 2004, (1) the direct or indirect sale, exchange or transfer of securities in the initial issuance of securities between the sponsor or underwriter and a plan when the person who has discretionary authority or renders investment advice with respect to the investment of plan assets in the securities is (a) an obligor with respect to 5 percent or less of the fair market value of obligations or receivables contained in the issuer, or (b) an affiliate of a person described in (a). Further, permits, effective October 14, 2004, transactions in connection with the servicing, management and operation of an issuer, including the use of any eligible swap transaction; or the defeasance of a mortgage obligation held as an asset of the issuer through the substitution of a new mortgage obligation in a commercial mortgage-backed designated transaction. Finally, permits, effective October 14, 2004, any transactions to which those restrictions or taxes would otherwise apply merely because a person is deemed to be a party in interest or disqualified person (including a fiduciary), with respect to a plan (or by virtue of having a relationship to such service provider described in section 3(14)(F), (G), (H) or (I) of ERISA or section 4975(e)(2)(F), (G), (H) or (I) of the Code, solely because of the plan’s ownership of securities.
Fortunoff Fine Jewelry and Silverware Inc. Cash Balance Pension Plan, M. Fortunoff of Westbury Corp. Cash Balance Pension Plan, and Fortunoff Fine Jewelry and Silverware, Inc. Profit Sharing Plan (collectively, the Plans)
Permits (1) effective November 26, 2003 until February 28, 2005, the leasing of certain improved real property (the Property) by the Plans directly and then through One MH Plaza Realty LLC (the Plans’ LLC), a special purpose entity designed to hold the Plans’ interests in the Property, to Fortunoff Fine Jewelry and Silverware, Inc. (FFJS) under the provisions of a written lease (the Interim Lease); and (2) effective March 1, 2005 through August 31, 2006, the 18 month extension of the Interim Lease between the Plans through the Plans’ LLC and FFJS and its successors in interest, Fortunoff Fine Jewelry and Silverware, LLC and M. Fortunoff of Westbury, LLC.
The Southwest Gas Corporation (Southwest Gas)
Permits the direct or indirect purchase, from Southwest Gas, of the common stock of Southwest Gas by an individual retirement account (IRA) that is (1) established for the benefit of a non-employee of Southwest Gas, (2) operated pursuant to the terms of the Southwest Gas Dividend Reinvestment and Stock Purchase Plan, and (3) maintained in part through administrative services provided by Southwest Gas, a disqualified person with respect to the IRA.
Massachusetts Mutual Life Insurance Company (MassMutual)
Permits (1) the extension of credit (Market Rate Advance or Advances) by MassMutual to a participant-directed individual account plan (the Plan); and (2) the Plan’s repayment of a Market Rate Advance or Advances, plus accrued interest. Also permits (1) the interest-free extension of credit (Interest-Free Advance) to a Plan by its respective sponsor; and (2) the repayment, by the Plan to the Plan sponsor, of any Interest-Free Advance.
The Revlon Employees Savings, Investment and Profit Sharing Plan (the Plan)
Permits, effective February 17, 2006, (1) the acquisition of certain stock rights (Stock Rights) by the Plan in connection with a Stock Rights offering by Revlon, Inc. (Revlon), a holding company that wholly owns Revlon Consumer Products Corporation, a party in interest with respect to the Plan; (2) the holding of the Stock Rights by the Plan during the subscription period of the Stock Rights offering; and (3) the disposition or exercise of the Stock Rights by the Plan.
Retail Clerks Welfare Trust Health and Welfare Plan (the Plan)
Permits, effective July 1, 2005, the purchase by Plan participants and beneficiaries of prescription drugs from pharmacies established and maintained by contributing employers to the Plan, or their affiliates, which are parties in interest with respect to the Plan.
The Young Men’s Christian Association Retirement Fund-Retirement Plan (the Plan)
Permits, effective July 1, 2006, (1) any arrangement, agreement or understanding between the Plan and any participating employer whose employees are covered by the Plan, whereby the time is extended for the making of a contribution by such a participating employer to such Plan; and (2) a determination by the Plan to consider a contribution due to the Plan from any participating employer any of whose employees are covered by the Plan as uncollectible and to terminate effectors to collect such contribution.
The Little Rock Diagnostic Clinic, P.A. Profit Sharing Plan (the Plan)
Permits the proposed cash sale by the Plan of a leased fee interest in certain real property to LRDC Real Estate, LLC, a party in interest with respect to the Plan.
Grant of Individual Exemption to Amend Prohibited Transaction Exemption (PTE) 95-31 Involving the Financial Institutions Retirement Fund (the Fund) and the Financial Institutions Thrift Plan (the Thrift Plan)
PTE 95-31 permits the provision of certain services and the receipt of compensation for such services by Pentegra Services, Inc. (Pentegra), a wholly owned, for-profit subsidiary corporation of the Fund, to employers (the Employers) that participate in the Fund and the Thrift Plan, and employee benefit plans (the Plans), sponsored by such Employers. This exemption expands the scope of PTE 95-31 by permitting the provision of certain trust services and the receipt of compensation for such services by Trustco (a wholly-owned, for-profit subsidiary corporation of the Fund that will provide directed, non-discretionary trust services) to the Plans, the Thrift Plan, and individual retirement accounts established by certain employees, officers, directors and/or shareholders of the Employers. In addition, the exemption permits the provision of certain services by Pentegra to the Thrift Plan and the IRAs; and the receipt of compensation by Pentegra in connection therewith.
Frank D. May, D.M.D., P.A. 401(k) Profit Sharing Plan and Trust (the Plan)
Permits the proposed sale of shares of stock in Diente Y Clavo, S.A. from the individually directed account in the Plan of Frank D. May, D.M.D. to Frank D. May, D.M.D., a party in interest with respect to the Account.
Amendment to Prohibited Transaction Exemption (PTE) 2001-32 Involving Development Company Funding Corporation
Amends Section II.D. of PTE 2001-32 to read: “The Trustee is not an affiliate of any other member of the Restricted Group, other than, effective on or after October 1, 2006, the Central Servicing Agent.” The amendment is effective as of October 1, 2006.
Kaiser Aluminum Corporation and Its Subsidiaries (collectively, Kaiser)
Permits, effective July 6, 2006, (1) the acquisition by the VEBA for Retirees of Kaiser Aluminum and by the Kaiser Aluminum Salaried Retirees VEBA (together, the VEBAs) of certain publicly traded common stock issued by Kaiser (the Stock or the Shares), through an in-kind contribution to the VEBAs by Kaiser of such Stock, for the purpose of prefunding VEBA welfare benefits; (2) the holding by the VEBAs of such Stock acquired pursuant to the contribution; and (3) the management of the Shares, including their voting and disposition, by an independent fiduciary designated to represent the interests of each VEBA with respect to the transactions.
Proposed Exemption; L-11148, D-11149, L-11150, L-11151, D-11152 and D-11153
American Maritime Officers Safety & Education Plan (the S&E Plan); American Maritime Officers Pension Plan (the Pension Plan); American Maritime Officers Vacation Plan (the Vacation Plan); American Maritime Officers Medical Plan (the Medical Plan; and American Maritime Officers 401(k) Plan (the 401(k) Plan; collectively, the AMO Plan(s))
Would apply to the following transactions: (1) the S&E Plan entering into an arrangement with the American Maritime Officers (the Union), which is a party in interest with respect to the AMO Plans, for the Union to pay the S&E Plan, where appropriate and at the rate established by the independent fiduciary (the I/F), for the portion of the Union trustees’ food and lodging provided by the S&E Plan that is attributable to attendance at certain Union meetings at the Dania Beach, Florida facility and the Toledo, Ohio facility (collectively, the Facilities); (2) the S&E Plan entering into an arrangement with the Union and certain contributing employers, who are parties in interest with respect to the AMO Plans, to pay the S&E Plan at a rate established by the I/F, for food and lodging provided by the S&E Plan at the Facilities for the representatives of the Union and the respective contributing employers that is attributable to attendance at various conferences; and (3) the S&E Plan entering into an arrangement with the governing bodies of the American Maritime Officers Joint Employment Committee (the JEC), and the American Maritime Officers Service (AMOS), who are parties in interest with respect to the AMO Plans, to pay the S&E Plan at a rate established by the I/F for food and lodging provided by the S&E Plan at the Facilities.
Would also permit (1) the AMO Plans to share expenses based on an internal expense allocation model (the Allocation Model) for the provision of food and lodging by the S&E Plan at the Facilities to the AMO Plans’ trustees; and (2) the AMO Plans, the JEC and AMOS sharing of expenses based on the Allocation Model for the provision of food and lodging by the S&E Plan at the Facilities.
Finally, would permit (1) contributing employers contracting with the S&E Plan to provide one of its courses at a special time; and (2) the S&E Plan designing training programs or undertaking special research or modeling tailored to the needs of a particular contributing employer or its vessels.
Proposed Exemption; D-11183
Plumbers & Pipefitters National Pension Fund (the Fund)
Would permit, effective June 5, 2001, the following transactions involving the receipt by Diplomat Properties, Limited Partnership (the Partnership) of certain services and products from hotel management company, Westin Management East (after January 12, 2006, Westin Hotel Management, L.P.) (referred to collectively with its parent company, Starwood Hotels & Resorts Worldwide, Inc., as Starwood) and certain related entities (Related Companies), retained to operate the Partnership’s principal asset, the Westin Diplomat Resort & Spa (collectively, Resort): (a) the provision of Centralized Services or Additional Services to the Resort by Starwood or a Related Company; (b) the purchase of goods from Starwood or a Related Company in connection with the provision of Centralized Services or Additional Services; and (c) the participation of the Resort in the Associate Room Discount Program.
Proposed Exemption; D-11342
Mellon Financial Corporation (Mellon)
Would permit, effective November 30, 2005, certain in kind redemptions by the Mellon 401(k) Retirement Savings Plan or by any other employee benefit plan sponsored by Mellon or an affiliate (the Plans), of shares of certain proprietary mutual funds in which the Plans were invested as of November 30, 2005, for which Mellon or an affiliate provides investment advisory and other services.
Proposed Exemption; D-11381
Bear Stearns Companies, Inc. (BS), Bear Stearns Asset Management, Inc., and Bear, Stearns & Co., Inc.
Would permit the purchase of certain securities (the Securities), by an asset management affiliate of BS from any person other than such asset management affiliate of BS or any affiliate thereof, during the existence of an underwriting or selling syndicate with respect to such Securities, where a broker-dealer affiliated with BS is a manager or member of such syndicate and the asset management affiliate of BS purchases such Securities, as a fiduciary: (a) on behalf of an employee benefit plan or employee benefit plans (the Client Plan(s)); or (b) on behalf of Client Plans, and/or in house plans which are invested in a pooled fund or in pooled funds.