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.
Grant; PTE 1998-01; D-10452
G: 63 FR 1979 (01/13/98)
P: 62 FR 51692 (10/02/97)
The Sperry Rail, Inc. Retirement Plan (the Plan)
Permits a loan by the Plan of $965,000 to Sperry Rail, Inc., the Plan sponsor and a party in interest with respect to the Plan.
Grant; PTE 1998-02; D-10471
G: 63 FR 1980 (01/13/98)
P: 62 FR 59741 (11/04/97)
First Bank System Personal Retirement Account (the Plan)
Permits (1) the proposed contribution to the Plan by U.S. Bancorp (the Employer), formerly First Bank System, Inc., the sponsor of the Plan, of the Employer's interests in two limited partnership funds (the Interests) organized and managed by Kohlberg Kravis Roberts & Co. (KKR); and (2) the grant by the Employer to the Plan of an option (the Put) under which the Plan is empowered at any time to require the Employer to repurchase the Interests from the Plan at any time.
Grant; PTE 1998-03; D-10480
G: 63 FR 1980 (01/13/98)
P: 62 FR 54479 (10/20/97)
Robert A. Doneff Custodial IRA (the IRA)
Permits the cash sale of a certain parcel of real property by the IRA to Robert A Doneff, a disqualified person with respect to the IRA.
Grant; PTE 1998-04; D-10472
G: 63 FR 3772 (01/26/98)
P: 62 FR 62639 (11/24/97)
Pentair Retirement Savings and Stock Incentive Plan (the Plan)
Permits the past sale by the Plan of the Plan's remaining interest in two guaranteed investment contracts of Confederation Life Insurance Company to Pentair, Inc., the sponsoring employer and a party in interest with respect to the Plan.
Grant; PTE 1998-05; D-10494
G: 63 FR 3773 (01/26/98)
P: 62 FR 62641 (11/24/97)
Robert H. Herzog Profit Sharing Plan (the Plan)
Permits the cash sale of a certain residential condominium by the Plan to Robert H. Herzog, a disqualified person with respect to the Plan.
Grant; PTE 1998-06; D-10522
G: 63 FR 3773 (01/26/98)
P: 62 FR 62641 (11/24/97)
CoreStates GIC and BIC Fund (the Fund)
Permits the sale by the Fund of the Fund's remaining interest in two guaranteed investment contracts of Confederation Life Insurance Company to CoreStates Bank, N.A., a party in interest with respect to the Fund.
Grant; PTE 1998-07; D-10236
G: 63 FR 8497 (02/19/98)
P: 62 FR 66669 (12/19/97)
The Equitable Life Assurance Society of the United States (Equitable)
Permits (1) the leasing of 13,086 square feet of office space and 6,650 square feet of parking space by Equitable Real Estate Investment Management, Inc. (ERE) until June 30, 2002; and (2) the leasing of 5,821 square feet of office space and 3584 square feet of parking space by ERE's subsidiary, Compass Management and Leasing, Inc. until August 31, 1999, in office buildings located in Orange County, California, that will be held by the Equitable Separate Account No. 8, also known as the Prime Property Fund and to the 1996 renewal of the original leases.
Grant; PTE 1998-08; D-10521
G: 63 FR 8498 (02/19/98)
P: 62 FR 66672 (12/19/97)
PNC Capital Markets, Inc. (PNC)
Permits the direct or indirect sale, exchange or transfer of certificates in the initial issuance of certificates between the sponsor or underwriter and an employee benefit plan when the sponsor, servicer, trustee or insurer of a trust, the underwriter of the certificates representing an interest in the trust, or an obligor is a party in interest with respect to such plan.
Grant; PTE 1998-09; D-10530
G: 63 FR 8501 (02/19/98)
P: 62 FR 66684 (12/19/97)
Jeffrey R. Light, M.D., Inc. Profit Sharing Plan
Permits the sale by the individual, self-directed account of Jeffrey R. Light, M.D. within the Plan of two parcels of real property to Jeffrey R. Light, M.D., a party in interest with respect to the Plan.
Grant; PTE 1998-10; D-10328 and D-10329
G: 63 FR 12839 (03/16/98)
P: 62 FR 62623 (11/24/97)
MS Commodity Investments Portfolio II, L.P. (the Partnership) and Morgan Stanley
Permits, effective April 3, 1996, the acquisition or redemption of units in the Partnership by certain plans (the Plans or Plan) that invest in the Partnership, where MSCM, the general partner of the Partnership, and/or its affiliates are parties in interest and/or disqualified persons with respect to such Plans.
Grant; PTE 1998-11; D-10394
G: 63 FR 12841 (03/16/98)
P: 62 FR 62630 (11/24/97)
National Rural UtilitiesCooperative Finance Corporation
Permits, effective November 18, 1997, (1) transactions relating to the refinancing by CFC of certain rural utility cooperative loans made to the Kansas Electric Power Cooperative, Inc. (KEPCO), and certain notes issued by KEPCO in connection with such loans which are assigned to trusts for which CFC acts as servicer, and certificates evidencing interests in such trusts; (2) transactions occurring in connection with the servicing, management and operation of a trust; and (3) transactions to which the restrictions or the taxes under the Code or ERISA would apply merely because a person is a deemed to be a party in interest or a disqualified person (including a fiduciary) with respect to a plan by virtue of providing services to a plan (or by virtue of having a relationship to such service provider), solely because of the plan’s ownership of certificates issued pursuant to the exemption or pursuant to PTE 89-93 (54 FR 45816, October 31, 1989).
Grant; PTE 1998-12; L-10485
G: 63 FR 12843 (03/16/98)
P: 62 FR 62643 (11/24/97)
Hawaii Laborers' Apprenticeship and Training Trust Fund (the Fund)
Permits the purchase of a certain parcel of unimproved real property by the Fund from the Laborers International Union of North America, Local 368, AFL-CIO, a party in interest with respect to the Trust Fund.
Grant; PTE 1998-13; D-10304
G: 63 FR 17020 (04/07/98)
P: 63 FR 4038 (01/27/98)
MBNA America Bank, National Association
Provides relief for a plan's purchase of certificates, representing the right to receive principal and interest payments from the assets of various trusts which hold credit card receivables, despite the fact that various entities involved in the loan program (i.e., the underwriter or the trustee) may be parties in interest with respect to the plan. Specifically, exemptive relief is provided for (1) the sale, exchange or transfer of certificates in the initial issuance of such certificates, the plan's acquisition or disposition of certificates in the secondary market, and the plan's continued holding of certificates; (2) the sale, exchange or transfer of certificates in the initial issuance of certificates, where the person who has discretionary authority or renders investment advice with respect to the investment of plan assets in the certificates is an obligor with respect to receivables contained in the trust, the acquisition or disposition of such certificates in the secondary market and the continued holding of such certificates by a plan; (3) transactions in connection with the servicing, management and operation of the trusts; and (4) transactions to which the restrictions or the taxes under ERISA or the Code would apply merely because a person is a deemed to be a party in interest or a disqualified person (including a fiduciary) with respect to a plan by virtue of providing services to a plan (or by virtue of having a relationship to such service provider), solely because of the plan’s ownership of certificates.
Grant; PTE 1998-14; D-10313
G: 63 FR 17027 (04/07/98)
P: 63 FR 4052 (01/27/98)
Citibank (South Dakota), N.A., et al.
Provides relief for a plan's purchase of certificates, representing the right to receive principal and interest payments from the assets of various trusts which hold credit card receivables, despite the fact that various entities involved in the loan program (i.e., the underwriter or the trustee) may be parties in interest with respect to the plan. Specifically, exemptive relief is provided for (1) the sale, exchange or transfer of certificates in the initial issuance of such certificates, the plan's acquisition or disposition of certificates in the secondary market, and the plan's continued holding of certificates; (2) the sale, exchange or transfer of certificates in the initial issuance of certificates, where the person who has discretionary authority or renders investment advice with respect to the investment of plan assets in the certificates is an obligor with respect to receivables contained in the trust, the acquisition or disposition of such certificates in the secondary market and the continued holding of such certificates by a plan; (3) transactions in connection with the servicing, management and operation of the trusts; and (4) transactions to which the restrictions or the taxes under ERISA or the Code would apply merely because a person is a deemed to be a party in interest or a disqualified person (including a fiduciary) with respect to a plan by virtue of providing services to a plan (or by virtue of having a relationship to such service provider), solely because of the plan’s ownership of certificates.
Grant; PTE 1998-15; D-10436
G: 63 FR 17034 (04/07/98)
P: 63 FR 4068 (01/27/98)
Massachusetts Mutual Life Insurance Company (MassMutual)
Permits (1) the mergers of certain Connecticut Mutual Life Insurance Company (CML) separate investment accounts, the assets of which include assets of employee benefit plans (the Plans), into certain Massachusetts Mutual Life Insurance Company SIAs -- the CML Select into MassMutual SIA-A, CML Fixed Income into MassMutual SIA-E, CML Basis into MassMutual SIA- F, CML Money Market into MassMutual SIA-G, and CML Overseas into MassMutual SIA-I (the Merger Transactions); (2) the transfer of Plan assets from CML Dimensions and CML Converts, after termination of those SIAs, into MassMutual SIA-E and MassMutual SIA-A; and (3) the transfer of Plan assets from CML Life Style Funds designated as CML Asset Allocation A, CML Asset Allocation B, and CML Asset Allocation C, after termination of those funds, into MassMutual SIA-BC, MassMutual SIA-BP, and MassMutual SIA-BA.
Grant; PTE 1998-16; D-10523
G: 63 FR 17034 (04/07/98)
P: 63 FR 6216 (02/06/98)
Overland, Ordal, Thorson & Fennell Pulmonary Consultants, P.C. Profit Sharing Plan & Trust (the Plan)
Permits the cash sale of a certain parcel of real property by the individually directed account in the Plan of Dr. Eric S. Overland to Dr. Overland.
Grant; PTE 1998-17; D-10412
G: 63 FR 19955 (04/22/98)
O: 63 FR 28415 (05/22/98) (Tech. Corr.)
P: 62 FR 54472 (10/20/97)
Metropolitan Life Insurance Company (MetLife)
Permits, effective April 1, 1997, (1) the purchase or retention by an employee benefit plan (the Plan); and (2) the sale or continuation by MetLife or an affiliate, of a synthetic guaranteed investment contract entered into between the Plan and MetLife under which MetLife guarantees certain amounts.
Grant; PTE 1998-18; L-10527
G: 63 FR 19959 (04/22/98)
P: 63 FR 9867 (02/26/98)
Consolidated Association of Railroad Employees Health Care Plan (the Plan)
Permits, effective June 10, 1997, (1) the current leasing (the Lease) of certain real property (the Property) by the Plan to Century Health Solutions, Inc. (Century), a party in interest with respect to the Plan; (2) the proposed new leasing of substantially the same Property by the Plan to Century (or its successor in name), effective April 1, 1998; and (3) the possible future sale of the Property by the Plan to Century (or its successor in name) pursuant to a right of first refusal under the terms of the Lease.
Grant; PTE 1998-19; D-10563
G: 63 FR 19960 (04/22/98)
P: 63 FR 9868 (02/26/98)
Thornton, Hegg, Reif, Johnston & Dolan Profit Sharing Plan and Trust (the Plan)
Permits the sale, by the Plan, of certain real property to Robert M. Hegg, a party in interest with respect to the Plan.
Grant; PTE 1998-20; D-10355
G: 63 FR 27328 (05/18/98)
P: 63 FR 6214 (02/06/98)
Equitable Life Assurance Society of the United States (Equitable)
Permits the past and continuing lease of commercial space in One Boston Place by Equitable Separate Account No. 8, also known as the Prime Property Fund, to an Equitable affiliate, Equitable Real Estate Investment Management, Inc.
Grant; PTE 1998-21; D-10421
G: 63 FR 27328 (05/18/98)
P: 63 FR 13694 (03/20/98)
Tyson Foods, Incorporated Employee Profit Sharing Plan and Trust (the Plan)
Permits the past sale by the Plan of certain hatcheries, a freezer facility and office complex, all located in Arkansas, to Tyson Foods, Inc., a party in interest with respect to the Plan.
Grant; PTE 1998-22; D-10461, D-10462 and D-10463
G: 63 FR 27329 (05/18/98)
P: 63 FR 66685 (12/19/97)
The Fortunoff Pension Plans (the Plans)
Amends PTE 93-8 (58 FR 7258, February 5, 1993), an individual exemption that was issued to the Plans involving purchase, leaseback and license transactions with the Plans’ sponsor and certain of its affiliates. The amendment permits the Plans to acquire certain real property through a third party exchange and to continue the leasing and other transactional arrangements approved under PTE 93-8.
Grant; PTE 1998-23; D-10213
G: 63 FR 29435 (05/29/98)
P: 63 FR 8482 (02/19/98)
Bankers Trust Company (Bankers Trust)
Permits, effective February 16, 1996, (1) the lending of certain securities to BT Alex, Brown, Inc., Bankers Trust International PLC and Bankers Trust (Australia) Limited (and their corporate successors), which are affiliates of Bankers Trust (collectively, the Affiliated Borrowers), by certain employee benefit plans (including commingled investment funds holding plan assets), for which Bankers Trust and certain other affiliates of (the BT Group) act as the directed trustee or custodian or securities lending agent or sub-agent; and (2) the receipt of compensation by the BT Group in connection with these transactions.
Grant; PTE 1998-24; D-10306
G: 63 FR 29439 (05/29/98)
P: 63 FR 8489 (02/19/98)
Goldman Sachs & Co. (Goldman Sachs) and the Goldman Sachs Trust
Permits, effective July 31, 1996, (1) the past and continued lending of securities to Goldman Sachs International or any other Goldman Sachs affiliate based in the United Kingdom (together, GSI), Goldman Sachs, affiliated U.S. registered broker-dealers of Goldman Sachs, or Goldman Sachs (Japan), by employee benefit plans, including commingled investment funds holding plan assets, for which Goldman Sachs Trust Company (GSTC), an affiliate of Goldman Sachs, acts as securities lending agent (or sub-agent) and; (2) to the receipt of compensation by the GSTC in connection with these transactions.
Grant; PTE 1998-25; D-10410
G: 63 FR 31528 (06/09/98)
P: 63 FR 9863 (02/26/98)
SmartRetirement: The OLDE 401(k) Plan (the Plan)
Permits, (1) effective October 4, 1996, the past and continuing receipt, by OLDE Discount Corporation (OLDE Discount), the plan sponsor and a wholly owned subsidiary of OLDE Financial Corporation, the Plan sponsor, of a portion of certain distribution fees that are paid by third party mutual funds (the Funds) to OLDE Discount pursuant to Rule 12b-1 (the 12b-1 Fees) under the Investment Company Act of 1940 (the 1940 Act) and which are associated with Plan assets that are invested in the Funds; and (2) the proposed cash rebate of such 12b-1 Fees by OLDE Discount to either the Plan or the individually-directed accounts of the participants in the Plan.
Grant; PTE 1998-26; D-10531
G: 63 FR 31532 (06/09/98)
P: 63 FR 15462 (03/31/98)
Beer Nuts, Inc. Profit Sharing Plan (the Plan)
Permits, effective December 30, 1996, the sale by the Plan of certain limited partnership interests to Beer Nuts, Inc., a party in interest with respect to the Plan.
Grant; PTE 1998-27; D-10550
G: 63 FR 31532 (06/09/98)
P: 63 FR 19952 (04/22/98)
James E. Jordan, Sr. Individual Retirement Account (the IRA)
Permits the cash purchase by the IRA of a certain promissory note issued by unrelated parties, which is secured by a first mortgage on certain residential property, from the James E. Jordan Revocable Trust Agreement, a disqualified person with respect to the Plan.
Grant; PTE 1998-28; D-10396
G: 63 FR 33727 (06/19/98)
P: 63 FR 6217 (02/06/98)
Massachusetts Mutual Life Insurance Company (MassMutual)
Permits (1) certain transactions (i.e., transfers between accounts, joint sales of property, additional capital contributions, lending of funds, and additional capital contributions) involving the management of investments shared by two or more accounts maintained by MassMutual; (2) certain transactions (i.e., additional capital contributions, third party purchase offers, rights of first refusal, and buy-sell options) involving the management of joint venture interests shared by two or more accounts maintained by MassMutual; and (3) transactions involving a joint venture or persons related to a joint venture (e.g., any additional equity or debt capital contributions to a joint venture by an ERISA-covered account that is participating in an interest in the joint venture, or to any material modification in the terms of, or action taken upon default with respect to a loan to the joint venture in which the ERISA-covered account has an interest as a lender, where the joint venture is a party in interest solely by reason of the ownership on behalf of the General Account of a 50 percent or more interest in such joint venture).
Grant; PTE 1998-29; D-10506
G: 63 FR 33731 (06/19/98)
P: 63 FR 6216 (02/06/98)
Knoxville Surgical Group Qualified Retirement Plan (the Plan)
Permits the sale of a medical office condominium by the Plan to Hugh C. Hyatt, M.D., Richard A. Brinner, M.D., Randal O. Graham, Michael D. Kropilak, M.D., and P. Kevin Zirkle, M.D., parties in interest with respect to the Plan.
Grant; PTE 1998-30; D-10524
G: 63 FR 33731 (06/19/98)
P: 63 FR 19950 (04/22/98)
Jack Mayesh Wholesale Florist, Inc. Profit Sharing Plan (the Plan)
Permits the sale by the Plan of certain unimproved real property to Roy Dahlson, a party in interest with respect to the Plan.
Grant; PTE 1998-31; D-10577
G: 63 FR 33731 (06/19/98)
P: 63 FR 19953 (04/22/98)
Pipefitters Local Union No. 537 Pension Fund (the Plan)
Permits the sale of real property to the Plan by Local Union No. 537 of the United Association of Journeymen and Apprentices of the Plumbing and Pipefitting Industry of the United States and Canada, a party in interest.
Grant; PTE 1998-32; D-10459 and D-10460
G: 63 FR 36958 (07/08/98)
P: 63 FR 15452 (03/31/98)
Union Bank of Switzerland (UBS/Swiss) & UBS Securities, LLC (UBS Securities)
Permits (1) the lending of securities to UBS/Swiss, UBS Securities, UBS Ltd., UBS Securities Limited and their successors in interest (collectively, the UBS Borrowers), which are or will be affiliated domestic or foreign broker-dealers of UBS Securities, by employee benefit plans (the Client Plans), including commingled investment funds holding plan assets, for which UBS/Swiss, acting through its New York branch (UBS NY) in connection with securities lending activities, an affiliate of the proposed UBS Borrowers, may serve as a securities lending agent, or as a custodian or a directed trustee to Client Plans, under either of two securities lending arrangements – “Plan A” or “Plan B”; and (2) the receipt of compensation by UBS NY in connection with the transactions.
Grant; PTE 1998-33; D-10529
G: 63 FR 36963 (07/08/98)
P: 63 FR 29458 (05/29/98)
Breland Investments, Inc. Profit Sharing Plan and Trust (the Plan)
Permits (1) the proposed loan (Loan) by the individually directed account in the Plan of Dr. Albert E. Breland (Dr. Breland) to Mesa Scholastic Enterprises, a disqualified person with respect to the Plan, and (2) the personal guarantee of the Loan by Dr. Breland, a disqualified person with respect to the Plan.
Grant; PTE 1998-34; D-10588 and D-10589
G: 63 FR 36963 (07/08/98)
P: 63 FR 27332 (05/18/98)
Karen J. Hartley Profit Sharing Plan and Karen J. Hartley Money Purchase Plan and Trust Agreement (the Plans)
Permits the loan by the Plans to Karen J. Hartley, the trustee and sole participant in the Plans and a disqualified person with respect to the Plans.
Grant; PTE 1998-35; D-10546
G: 63 FR 36943 (07/08/98)
P: 63 FR 15228 (03/30/98)
Amalgamated Bank of New York (the Bank)
Amends PTE 97-35 (62 FR 41088 (July 31, 1997)) involving (1) the provision of banking services (Banking Services) by the Bank to certain employee benefit plans (the Plans), which are maintained on behalf of members of the International Ladies Garment Workers Union; (2) the purchase by the Plans of certificates of deposit (CDs) issued by the Bank; and (3) the deposit of Plans' assets in money market or other deposit accounts established by the Bank. Permits the transactions described in PTE 97-35 and is generally effective as of July 1, 1995.
Grant; PTE 1998-36; D-10525
G: 63 FR 38853 (07/20/98)
P: 63 FR 29456 (05/29/98)
Collection Bureau Services Profit Sharing Plan and Trust (the Plan)
Permits (1) the proposed lease (the Lease) by the Plan of certain improved real property (Property) to Collection Bureau Services (the Employer), a party in interest with respect to the Plan, and (2) the possible purchase of the Property by the Employer in the future, pursuant to the Employer’s option to purchase the Property under the Lease.
Grant; PTE 1998-37; D-10583
G: 63 FR 38854 (07/20/98)
P: 63 FR 27330 (05/18/98)
McClain’s RV Inc. 401(k) Profit Sharing Plan (the Plan)
Permits the sale of certain unimproved real property by the Plan to Larry McClain, the sole shareholder of McClain’s R.V., Inc., the sponsor of the Plan and a party in interest with respect to the Plan.
Grant; PTE 1998-38; D-10558, et al.
G: 63 FR 42080 (08/06/98)
P: 63 FR 33725 (06/19/98)
Individual Retirement Accounts (the IRAs) for Roark Young, Russell Rice, Mary J. Rice, Bruce Lamchick, Steven McKean and David McKean, and Burton Young (collectively, the Participants)
Permits the cash sales, occurring on March 30, 1998, of certain stock by the IRAs to the Participants, who are disqualified persons with respect to the IRAs.
Grant; PTE 1998-39; D-10605
G: 63 FR 42080 (08/06/98)
P: 63 FR 35290 (06/29/98)
William M. Hitchcock SERP (DB) (the Plan)
Permits the proposed sale by the Plan of 67,466 shares of stock in Thoratec Laboratories, Inc. to William M. Hitchcock, a disqualified person with respect to the Plan.
Grant; PTE 1998-40; D-10429
G: 63 FR 46241 (08/31/98)
P: 63 FR 3767 (01/26/98)
Morgan Stanley & Co. Incorporated (MS&Co) and Morgan Stanley Trust Company (MSTC) (collectively, MS Broker-Dealers)
Exemption amends and replaces PTE 96-14 (61 FR 10032, March 12, 1996). The exemption permits, effective March 12, 1996, (1) the lending of securities to MS&Co and to any other U.S. registered broker-dealers affiliated with MSTC or MS&Co by employee benefit plans with respect to which the MS Broker-Dealer who is borrowing such securities is a party in interest or for which (a) MSTC acts as directed trustee, (b) MSTC or MS&Co acts as custodian and securities lending agent, or (c) MSTC or MS&Co acts as noncustodial securities lending agent; and (2) the receipt of compensation by MSTC or MS&Co in connection with these transactions. In addition, the exemption expands the scope of PTE 96-14 and includes references to MS&Co in footnotes and the general conditions.
Grant; PTE 1998-41; D-10327
G: 63 FR 46238 (08/31/98)
P: 63 FR 33717 (06/19/98)
Lehman Brothers Inc. (Lehman) and Lehman Brothers Trust Company and Affiliates (LBTC), et al.
Permits (1) the lending of securities to Lehman or to any other US registered broker-dealer who is an affiliate of Lehman (collectively, the Lehman Broker-Dealer) by employee benefit plans, including commingled investment funds holding plan assets, with respect to which the Lehman Broker-Dealer is a party in interest, or for which LBTC or any other affiliate of the Lehman, acts as directed trustee or custodian and/or securities lending agent for such Client Plan; and (2) the receipt of compensation by LBTC in connection with these transactions.
Grant; PTE 1998-42; D-10483
G: 63 FR 46240 (08/31/98)
P: 63 FR 35281 (06/29/98)
Van Ness Plastic Molding Co., Inc., (the Employer) Employees’ Money Purchase Pension Plan (the Plan)
Permits (1) the making to the Plan of a restoration payment with respect to certain defaulted third-party notes (the Notes) by the Employer, a party in interest with respect to the Plan; and (2) the potential future receipt by the Employer of recapture payments made to the Plan pursuant to bankruptcy proceedings involving the issuer/assignor of the Notes.
Grant; PTE 1998-43; D-10547
G: 63 FR 49611 (09/16/98)
P: 63 FR 42076 (08/06/98)
Individual Retirement Accounts (the IRAs) for Marcia A. Hendrichsen, Larry L. Henderichsen, Lawrence D. Hendrichsen, and William H. Napier, George Rashid, Jr., Jake E. Rashid, Carl A. Saunders, and John C. Schuldt (collectively, the Participants)
Permits the cash sale of certain membership units in the Catfish Bend Casinos, LC, by the IRAs to the Participants, disqualified persons with respect to the IRAs.
Grant; PTE 1998-44; D-10572
G: 63 FR 49611 (09/16/98)
P: 63 FR 38859 (07/20/98)
R&J Hoffman, Inc. Profit Sharing Plan (the Plan)
Permits (1) the loan (the Loan) of $53,240 by the Plan to R & J Hoffman, Inc., a disqualified person with respect to the Plan; and (2) the personal guarantee of the Loan by Richard and Angel Hoffman.
Grant; PTE 1998-45; D-10607
G: 63 FR 49611 (09/16/98)
P: 63 FR 36957 (07/08/98)
Kilpatrick Investment Company Employee’s Pension Plan (the Plan)
Permits, effective April 15, 1998, the sale of improved real property by the Plan to the Kilpatrick Investment Company, a party in interest with respect to the Plan.
Grant; PTE 1998-46; D-10503
G: 63 FR 53722 (10/06/98)
P: 63 FR 29443 (05/29/98)
Sanwa Bank California (Sanwa Bank)
Permits, effective October 31, 1997, the purchase by an employee benefit plan established and maintained by parties other than Sanwa Bank (the Client Plan) or by Sanwa Bank (the Bank Plan) of shares of one or more open-end management investment companies (the Fund(s)) in exchange for assets of the Plan transferred in-kind to the Fund by a collective investment fund (CIF) maintained by Sanwa Bank, where Sanwa Bank is the investment adviser and may provide other services to the Fund and where Sanwa Bank is also a fiduciary of the Plan, in connection with the termination of such CIFs. Also permits, effective October 31, 1997, (1) the receipt of fees by Sanwa Bank from the Funds for investment advisory services provided to the Funds; and (2) the receipt or retention of Fees by Sanwa Bank from the Funds, as well as for providing any other services to the Funds which are not investment advisory services (i.e., Secondary Services), in connection with the investment of shares in the Funds by the Client Plans for which Sanwa Bank acts as a fiduciary.
Grant; PTE 1998-47; D-10606
G: 63 FR 53729 (10/06/98)
P: 63 FR 42077 (08/06/98)
Bernard Chaus, Inc. Employee Savings Plan (the Plan)
Permits, effective December 24, 1997, (1) the past acquisition by the Plan of certain stock rights (the Rights) pursuant to a stock rights offering (the Offering) by Bernard Chaus, Inc. (the Employer), the sponsor of the Plan; (2) the past holding of the Rights by the Plan during the subscription period of the offering; (3) the past disposition or exercise of the Rights by the Plan; and (4) the proposed payment by the Employer to the Plan of an amount necessary to credit Plan accounts of participants affected by an administrative error relating to Rights which were not exercised or sold prior to the expiration of the Rights.
Grant; PTE 1998-48; L-10536 and D-10537
G: 63 FR 53729 (10/06/98)
P: 63 FR 35289 (06/29/98)
ACRA Local 725 Health & Welfare Fund (the Welfare Plan) and ACRA Local 725 Pension Fund (the Pension Plan; together, the Plans)
Permits the payment of interest by the Pension Plan to the Welfare Plan on past mistaken contributions pursuant to an indemnification agreement by the Board of Trustees of the Pension Plan with respect to the mistaken contributions.
Grant; PTE 1998-49; D-10349
G: 63 FR 56228 (10/21/98)
P: 63 FR 42069 (08/06/98)
Harris Trust & Savings Bank (Harris Trust)
Permits, effective March 21, 1997, the acquisition by employee benefit plans (the Plans), including two plans sponsored by Harris Trust for its own employees, of shares of any open-ended investment companies (the Funds) registered under the Investment Company Act of 1940 for which Harris Trust is an investment adviser and may provide other services, with Plan assets transferred in-kind to the Funds from certain collective investment funds (CIFs) maintained by Harris Trust, in connection with the termination of the CIFs. Also permits, effective March 21, 1997, the receipt of fees by Harris Trust from the Funds for acting as an investment advisor for the Funds, as well as for acting as the custodian, transfer agent, sub-administrator for the Funds, or for providing any other “secondary service” to the Funds, in connection with the investment in the shares of the Funds by Plans for which Harris Trust is a fiduciary, other than the in house plans of Harris Trust.
Grant; PTE 1998-50; D-10578
G: 63 FR 56231 (10/21/98)
P: 63 FR 46253 (08/31/98)
John B. Vick, D.D.S., P.A. Pension Plan (the Plan)
Permits the cash sale of two promissory notes by the Plan to Dr. John B. Vick, a party in interest and disqualified person with respect to the Plan.
Grant; PTE 1998-51; L-09583
G: 63 FR 60399 (11/09/98)
P: 63 FR 15443 (03/31/98)
U S WEST, Inc., et al. (collectively, U S WEST)
Permits, effective March 31, 1994, voluntary contributions in-kind by U S WEST of certain shares of publicly traded common stock of U S WEST (the Stock) and/or any replacement publicly traded shares of such Stock to certain trusts for the purpose of pre-funding welfare benefits under one or more employee welfare benefit plans maintained by U S WEST.
Grant; PTE 1998-52; D-09952
G: 63 FR 60403 (11/09/98)
P: 63 FR 46245 (08/31/98)
RREEF America L.L.C. (RREEF)
Permits, effective November 9, 1998, (1) the provision of certain leasing services (the Leasing Services) by RREEF's leasing affiliates (the Leasing Affiliates) to certain accounts (the Accounts) established by RREEF; and (2) the payment of leasing commissions in connection with the provision of Leasing Services by the Leasing Affiliates to the Accounts.
Grant; PTE 1998-53; D-10324
G: 63 FR 60408 (11/09/98)
P: 63 FR 38855 (07/20/98)
Pacific Income Advisers, Inc. (PIA)
Permits (1) the acquisition, sale or redemption of trust units (the Units) in the PIA Fixed-Income Group Investment Trust, the PIA Short-Term Group Investment Trust, the PIA Equity Group Investment Trust, and the PIA Global Group Investment Trust (each a Trust and collectively, the Trusts), by employee benefit plans, and Individual Retirement Accounts (IRA's; collectively, the Plan(s)); and (2) the payment of fees by a Trust to PIA, where PIA is a fiduciary or other party in interest with respect to a Plan investing in a Trust and the investment adviser to each of the Trusts.
Grant; PTE 1998-55; D-10379
G: 63 FR 65244 (11/25/98)
P: 63 FR 49612 (09/16/98)
John Taylor Fertilizers Company, Profit Sharing Plan (the Plan)
Permits the sale by the Plan of an undivided 16.28% interest in a certain leasehold of a professional office complex located in Sacramento, California, to John Taylor Fertilizers Company, a party in interest with respect to the Plan.
Grant; PTE 1998-56; D-10438
G: 63 FR 65245 (11/25/98)
P: 63 FR 36946 (07/08/98)
Toyota Motor Credit Corporation (TMCC)
Permits, effective September 1, 1997, the following transactions involving trusts and certificates evidencing interests therein: (1) the direct or indirect sale, exchange or transfer of certificates in the initial issuance of certificates between the sponsor or underwriter and an employee benefit plan when the sponsor, servicer, trustee or insurer of a trust, the underwriter of the certificates representing an interest in the trust, or an obligor is a party in interest with respect to such plan; (2) the direct or indirect acquisition or disposition of certificates by a plan in the secondary market for such certificates; and (3) the continued holding of certificates acquired by a plan pursuant to the sections above. Also permits, effective September 1, 1997, the direct or indirect sale, exchange or transfer of certificates in the initial issuance of certificates between the sponsor or the 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 certificates is (a) an obligor with respect to 5 percent or less of the fair market value of obligations or receivables contained in the trust, or (b) an affiliate of such obligor. Further, permits transactions in connection with the servicing, management and operation of a trust. Finally, the exemption permits, effective September 1, 1997, any transactions to which ERISA’s restrictions or the Code sanctions would apply merely because a person is a party in interest or a disqualified person with respect to a plan by virtue of providing services (or by having a relationship with a service provider), solely because of the plan’s ownership of certificates.
Grant; PTE 1998-57; L-10595
G: 63 FR 69325 (12/16/98)
P: 63 FR 33726 (06/19/98)
Service Employees International Union (SEIU) Local 252 Welfare Fund (the Fund)
Permits the sale of certain improved real property located in Wynnewood, Pennsylvania by the Fund to the SEIU Local 252, a party in interest with respect to the Fund.
Grant; PTE 1998-58; D-10614
G: 63 FR 69326 (12/16/98)
P: 63 FR 60389 (11/09/98)
Mohammad J. Iqbal Employee Profit Sharing Plan and Trust (the Plan)
Permits the cash sale of 12 Krugerrand gold coins by the individually directed account in the Plan of Dr. Mohammad J. Iqbal (Dr. Iqbal), to Dr. Iqbal, a party in interest with respect to the Plan.
Grant; PTE 1998-59; D-10656, 10657 and 10658
G: 63 FR 69326 (12/16/98)
P: 63 FR 60389 (11/09/98)
Individual Retirement Accounts (collectively, the IRAs) for William N. Albright, Victor Hamre, and Richard Pearson (collectively, the Participants)
Permits the cash sales of certain shares of stock in the First Community Bancshares Corp. by each IRA to its respective Participant, a disqualified person with respect to the IRA.
Grant; PTE 1998-60; D-10352
G: 63 FR 71301 (12/24/98)
P: 63 FR 53709 (10/06/98)
Citizens Bank, NH
Permits, effective October 11, 1996, the in-kind transfer of assets of employee benefit plans (the Client Plans) for which Citizens Bank, NH (the Bank) serves as fiduciary, other than plans established and maintained by the Bank, that were held in a portfolio of a collective investment fund maintained by the Bank, in exchange for shares of the Berger/BIAM International Institutional Fund (the B/B Fund), an open-end investment company registered under the Investment Company Act of 1940, the investment adviser and investment sub-adviser of which BBOI Worldwide LLC (BBOI) and Bank of Ireland Asset Management Limited (BIAM), respectively, which are related to the Bank. Also permits, effective October 11, 1996, the receipt of fees from the B/B Fund and/or the B/B portfolio by the Bank, BBOI Worldwide LLC and Bank of Ireland Asset Management (U.S.) Limited for acting as investment adviser, as well as for acting as a sub-adviser, custodian, sub-administrator, or provider of other services which are not investment advisory services, for the B/B Fund, in connection with the investment in the B/B Fund by Client Plans for which the Bank acts as a fiduciary.
Grant; PTE 1998-61; D-10484
G: 63 FR 71304 (12/24/98)
P: 63 FR 35284 (06/29/98)
John Hancock Mutual Life Insurance Company (JHMLIC)
Permits the purchases and sales of timber assets between various accounts that are managed by the Hancock Natural Resource Group, Inc., John Hancock Timber Resources Corporation, or another affiliate of JHMLIC.
Grant; PTE 1998-62; D-10486
G: 63 FR 71307 (12/24/98)
P: 63 FR 53714 (10/06/98)
Barclays Bank PLC (Barclays)
Permits, effective July 31, 1997, (1) the purchase and sale of securities between Barclays and a bank or a broker-dealer affiliate which is subject to British law (the Foreign Affiliate), and employee benefits plans (the Plans) with respect to which Barclays or the Foreign Affiliate is a party in interest, including options on securities written by the Plan; (2) the extension of credit to the Plan by Barclays or the Foreign Affiliate to permit the settlement of securities transactions or in connection with the writing of options contracts or in connection with the purchase or sale of securities; and (3) the lending of securities that are the assets of a Plan to Barclays or the Foreign Affiliate.