Applications for class exemptions under Title I and Title II of ERISA are handled by the Employee Benefits Security Administration's Office of Exemption Determinations (OED).
The Department's Exemption Procedure Regulation provides the basic requirements and procedures needed to apply for exemptions from the prohibited transaction rules of ERISA.
Below is a historical list of exemptions. They may not reflect current law, 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 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.
Please be advised that the information in your exemption application, and any information submitted to the Department in support of your exemption application (including any information submitted to the Department in support of your exemption application prior to the Department’s receipt of your exemption application), will be disclosed to the public upon request. You are responsible for ensuring that your exemption application does not contain information that you do not want disclosed to the public. As stated in the Exemption Procedure Regulation (29 CFR 2570.33(c)), the Department will not process or consider an exemption application or a supporting document containing a request intended to restrict the Department’s ability to disclose information to the public. Consequently, by participating in the exemption application process, you are consenting to the public disclosure of your exemption application and any information submitted to the Department in support of your application. The Department reserves the right to revoke an exemption if the record upon which the exemption is based contains information that may not be disclosed to the public.
Some class exemptions include collections of information, such as reporting and disclosure obligations. The Paperwork Reduction Act (PRA) is the law that governs collections of information sponsored by federal agencies. The PRA prohibits a federal agency from conducting or sponsoring a collection of information unless it is approved by the Office of Management and Budget (OMB). OMB assigns a control number to each approved collection of information that is required by a class exemption, and if an agency does not display a valid OMB control number in a class exemption, the public is not required to respond to the agency's collection of information nor is it subject to a penalty for failing to respond.
For the class exemptions that include a collection of information, we have listed below OMB control numbers, expiration dates for OMB's approval of the information collection, and the Department's estimated burden per response to comply with the information collection.
Proposed Class Exemptions
Granted Class Exemptions
PTE 2020-02
Application No. D-12011
Improving Investment Advice for Workers and Retirees
- Adopted Amendment: 89 FR 32260
The effective date of the amendment has been stayed by court order pursuant to the following matters: Federation of Americans for Consumer Choice v. U.S. Department of Labor, No. 6:24-CV-163-JDK (E.D. Tex.) and American Council of Life Insurers v. U.S. Department of Labor, No. 4:24-CV-00482-O (N.D. Tex.). The Department of Justice has filed a notice of appeal in these matters. - Proposed Amendment: 88 FR 75890
- Final Exemption: 85 FR 82798
- Proposed Exemption: 85 FR 40834
Permits investment advice fiduciaries to receive compensation as a result of their advice, including as a result of advice to roll over assets from an employee benefit plan to an IRA, and to engage in certain principal transactions.
PTE 2006-16
Application No. D-08295/10365
- Final Amendment: 87 FR 12985
- Proposed Amendment: 78 FR 37572
- Final Exemption: 71 FR 63786
- Correction: 68 FR 61468
- Proposed Exemption: 68 FR 60715
Incorporates PTEs 81-6 and 82-63 and extends PTE 81-6 to certain foreign banks and broker-dealers. Also permits certain additional forms of collateral. The proposed amendment would remove credit ratings requirements.
- OMB Control Number: 1210-0065 (expires 10/31/2022)
- Time Burden Per Response: 11 minutes
- Cost Burden Per Response: $8.24
PTE 1982-63
Application No. D-2488
- Clarification: See PTE 2002-13
- Correction: 47 FR 16437
- Final Exemption: 47 FR 14804
- Proposed Exemption: 46 FR 7518
Permits certain compensation arrangements to be made for the provision by a fiduciary of securities lending services to a plan.
PTE 1981-06
- Clarification: See PTE 2002-13
- Adopted Amendment: 52 FR 18754
- Proposed Amendment: 51 FR 9900
- Correction: 46 FR 10570
- Final Exemption: 46 FR 7527
- Proposed Exemption: 45 FR 24946
Permits the lending of securities by plans to banks and broker-dealers who are parties in interest to such plans.
PTE 2006-06
Application No. D-11201
- Adopted Amendment (2): 89 FR 43675
- Proposed Amendment (2): 77 FR 74056
- Adopted Amendment (1): 73 FR 58629
- Proposed Amendment (1): 72 FR 7461
- Final Exemption: 71 FR 20855
- Proposed Exemption: 70 FR 12074
Permits a "qualified termination administrator" to select itself or an affiliate to provide services to an abandoned plan in connection with the termination of the plan; to pay itself or an affiliate fees for those services, and to pay itself for services provided prior to the plan's deemed termination. Also permits the QTA to designate itself or an affiliate as provider of an individual retirement plan for distributions from abandoned plans to IRAs or other accounts maintained by the QTA resulting from a participant's failure to provide direction and to pay itself fees in connection therewith.
- OMB Control Number: 1210-0127 (expires 04/30/2022)
- Time Burden Per Response: 2 minutes
- Cost Burden Per Response: $0.55
PTE 2004-16
Application No. D-11203
Permits certain transactions involving IRAs in connection with a mandatory distribution.
PTE 2004-07
Application No. D-10659
Permits the acquisition, holding or sale of publicly traded shares of beneficial interest in a real estate investment trust (REIT), that is structured under state law as a business trust, by individual account plans sponsored by the REIT or its affiliates.
- OMB Control Number: 1210-0124 (expires 04/30/2022)
- Time Burden Per Response: 3 minutes
- Cost Burden Per Response: $3.17
PTE 2003-39
Application No. D-11100
- Adopted Amendment: 75 FR 33830
- Proposed Amendment: 72 FR 65597
- Final Exemption: 68 FR 75632
- Proposed Exemption: 68 FR 6953
Permits certain transactions engaged in by a plan, in connection with the settlement of litigation.
- OMB Control Number: 1210-0091 (expires 04/30/2022)
- Time Burden Per Response: 1 minutes
- Cost Burden Per Response: $0.25
PTE 1994-71
Application No. D-9484
- Correction: 59 FR 60837
- Final Exemption: 59 FR 51216
- Proposed Exemption: 59 FR 27581
Permits transactions authorized by a settlement agreement that results from an investigation of a plan conducted by the Department.
- OMB Control Number: 1210-0091 (expires 04/30/2022)
- Time Burden Per Response: 1 minutes
- Cost Burden Per Response: $0.25
PTE 1979-15
- Clarification: See PTE 2002-13
- Final Exemption: 44 FR 26979
- Proposed Exemption: 44 FR 7244
Permits otherwise prohibited transactions if the transactions are ordered by a U.S. District Court or by settlement of litigation approved by such court provided that the DOL or the IRS is a party to the litigation at the time of such order or settlement.
PTE 2002-51
Application No. D-10933
- Proposed Amendment: 87 FR 70753
- Adopted Amendment: 71 FR 20135
- Proposed Amendment: 70 FR 17476
- Final Exemption: 67 FR 70623
- Proposed Exemption: 67 FR 15083
Provides relief from the sanctions imposed under Internal Revenue Code section 4975(a) and (b) for certain eligible transactions identified in the Department's Voluntary Fiduciary Correction Program.
- OMB Control Number: 1210-0118 (expires 04/30/2022)
- Time Burden Per Response: 2 minutes
- Cost Burden Per Response: $2.66
PTE 2002-13
Application No. D-10616
Amends 12 other class exemptions to define the term "employee benefit plan" to include plans described in Internal Revenue Code section 4975(e)(1).
PTE 2002-12
Application No. D-10851
Permits cross-trades of securities among index and model driven funds managed by investment managers, and among such funds and certain large accounts which engage such managers to carry out a specific portfolio restructuring program or to otherwise act as a "trading adviser" for such a program.
- OMB Control Number: 1210-0115 (expires 04/30/2022)
- Time Burden Per Response: 1 hour, 1 minute
- Cost Burden Per Response: $1.36
PTE 1997-41
Application No. D-9988
- Final Amendment: 87 FR 12985
- Proposed Amendment: 78 FR 37572
- Final Exemption: 62 FR 42830
- Correction: 61 FR 59244
- Proposed Exemption: 61 FR 58224
Permits a plan to purchase shares of a registered investment company in an in-kind exchange for the plan's bank collective investment fund assets when the bank or plan adviser of the fund is also a fiduciary of the plan. The proposed amendment would remove credit ratings requirements.
- OMB Control Number: 1210-0104 (expires 04/30/2022)
- Time Burden Per Response: 16 hours, 45 minutes
- Cost Burden Per Response: $4,840.78
PTE 1996-63
Application No. D-10218
Provides exemptive relief for certain transactions involving the failure to transmit participant contributions to pension plans where the delinquent amounts are voluntarily restored to the plans with lost earnings. This exemption was granted as part of the Department's Pension Payback Program, which is targeted at persons who failed to transfer participant contributions to pension plans, including section 401(k) plans, within the time frames mandated by the Department's participant contribution regulation, and, thus, violated Title I of ERISA.
PTE 1996-62
Application No. D-10031
- Clarification: See PTE 2002-13
- Adopted Amendment: 67 FR 44622
- Proposed Amendment: 67 FR 13019
- Final Exemption: 61 FR 39988
- Proposed Exemption: 60 FR 58376
Permits certain prospective transactions between plans and parties in interest where the transactions are specifically authorized by the Department and are subject to terms, conditions and representations which are substantially similar to two exemptions previously granted by the Department within the 60 months prior to the application. The amendment alternatively permits parties to rely on one individual exemption granted within the 120 months prior to the application and one transaction which received authorization from the Department under PTE 96-62 within the past 60 months.
- OMB Control Number: 1210-0098 (expires 10/31/2020)
- Time Burden Per Response: 1 minute
- Cost Burden Per Response: $5.82
PTE 1996-23
Application No. D-9602
- Adopted Amendment: 76 FR 18255
- Proposed Amendment: 75 FR 33642
- Final Exemption: 61 FR 15975
- Proposed Exemption: 60 FR 15597
Permits various transactions involving plans whose assets are managed by in-house managers.
- OMB Control Number: 1210-0145 (expires 01/23/2023))
- Time Burden Per Response: 1 day, 23 hours
- Cost Burden Per Response: $20,000.00
PTE 1995-60
Application No. D-9662
- Final Amendment: 87 FR 12985
- Proposed Amendment: 78 FR 37572
- Clarification: See PTE 2002-13
- Final Exemption: 60 FR 35925
- Proposed Exemption: 59 FR 43134
Permits general relief for transactions between an insurance company general account and parties in interest to plans that are contract holders in the general account. It also provides relief for a general account to acquire and hold employer securities and employer real property. The proposed amendment would remove credit ratings requirements.
PTE 1998-54
Application No. D-10078
Supplements PTE 94-20 for transactions relating to certain employee benefit plan foreign exchange transactions executed pursuant to standing instructions between a bank or broker-dealer and a plan.
- OMB Control Number: 1210-0111 (expires 12/31/2020)
- Time Burden Per Response: 1 minute
- Cost Burden Per Response: $0.00
PTE 1994-20
Application No. D-5700
- Final Exemption: 59 FR 8022
- Correction: 56 FR 33467
- Proposed Exemption: 56 FR 11757
- Related Exemption: See PTE 1998-54
Permits foreign exchange transactions between banks or broker-dealers and plans.
- OMB Control Number: 1210-0085 (expires 04/30/2020)
- Time Burden Per Response: 10 minutes
- Cost Burden Per Response: $0.00
PTE 1997-11
Application No. D-9707
- Adopted Amendment (2): 67 FR 76425
- Proposed Amendment (2): 67 FR 41504
- Adopted Amendment (1): 64 FR 11042
- Proposed Amendment (1): 63 FR 56231
- Final Exemption: 62 FR 5855
- Proposed Exemption: 61 FR 39996
Permits the receipt of services at reduced or no cost by an individual for whose benefit and individual retirement account (IRA) or, if self-employed, a Keogh Plan is established or maintained, or by members of his or her family, from a broker-dealer, provided that the conditions of the exemption are met.
PTE 1993-33
Application No. D-9124
- Adopted Amendment (2): 64 FR 11044
- Proposed Amendment (2): 63 FR 56233
- Adopted Amendment (1): 59 FR 22686
- Proposed Amendment (1): 58 FR 61103
- Final Exemption: 58 FR 31053
- Proposed Exemption: 58 FR 3565
Replaces and amends PTE 93-02. Permits the receipt of certain services at reduced or no cost by an IRA/Keogh Plan beneficiary from a bank.
PTE 1993-02
Application Nos. D-8243, D-8323
- Final Exemption: 58 FR 3561
- Proposed Exemption: 56 FR 8365
- Replaced By: 1993-33, 58 FR 31053
Permits the receipt of certain services at reduced or no cost by an IRA/Keogh Plan beneficiary from a bank.
PTE 1993-01
Application No. D-4064
- Final Exemption: 58 FR 3567
- Proposed Exemption: 48 FR 4592
Permits the receipt of cash, property or other consideration in connection with a transaction involving an IRA or Keogh Plan.
PTE 1992-06
Application No. D-8337
- Adopted Amendment: 67 FR 56313
- Proposed Amendment: 67 FR 15083
- Correction: 57 FR 29938
- Final Exemption: 57 FR 5189
- Proposed Exemption: 56 FR 31679
Replaces and amends PTE 77-8 to include transactions between plans and owner-employees. The amendment permits transactions between plans and personal or private trusts established by, or for the benefit of an individual who is a participant in the plan is insured under the policy, or by or for the benefit of one or more relatives.
- OMB Control Number: 1210-0063 (expires 05/31/2020)
- Time Burden Per Response: 12 minutes
- Cost Burden Per Response: $0.60
PTE 1977-08
Application No. D-0281
- Correction: 42 FR 33817
- Final Exemption: 42 FR 31574
- Proposed Exemption: 42 FR 4036
- Replaced by: 1992-6, 57 FR 5189
Permits the transfer of life insurance policies by plans to participants, relatives of participants, plan sponsors or another plan.
PTE 1992-05
Application No. D-8303
- Final Exemption: 57 FR 5019
- Proposed Exemption: 56 FR 31681
Replaces and amends PTE 77-7 to include transactions between plans and owner-employees.
PTE 1977-07
- Correction: 42 FR 36529
- Final Exemption: 42 FR 31575
- Proposed Exemption: 42 FR 4034
- Replaced by: 1992-5, 57 FR 5019
Permits the transfer of life insurance policies to plans by plan participants or sponsoring employers.
PTE 1991-55
Application No. D-7088
- Correction: 56 FR 50729
- Final Exemption: 56 FR 49209
- Proposed Exemption: 53 FR 10169
Permits the purchase and sale by individual retirement accounts (IRAs) of bullion coins in principal transactions from or to a broker dealer who has an existing relationship with the IRAs so as to make the transaction prohibited.
PTE 1991-38
Application No. D-8414
- Clarification: See PTE 2002-13
- Correction: 56 FR 59299
- Final Exemption: 56 FR 31966
- Proposed Exemption: 56 FR 4856
Amends and supersedes PTE 80-51, which permits bank collective investment funds in which plans invest to engage in certain transactions with parties in interest and to hold employer securities or employer real property. The amendment expands the percentage of collective fund interest that may be held by a participating plan.
- OMB Control Number: 1210-0082 (expires 04/30/2020)
- Time Burden Per Response: 10 minutes
- Cost Burden Per Response: $0.00
PTE 1980-51
- Correction: 45 FR 52949
- Final Exemption: 45 FR 49709
- Proposed Exemption: 44 FR 44290
Permits bank collective investment funds in which plans invest to engage in certain otherwise prohibited transactions.
PTE 1990-01
Application No. D-7551
- Final Exemption: 55 FR 2891
- Proposed Exemption: 54 FR 31092
Amends and supersedes PTE 78-19, which permits insurance company pooled separate accounts in which plans invest to engage in certain transactions with parties in interest and to hold employer securities or employer real property. The amendment expands the percentage of pooled account interest by a participating plan which can qualify for the general exemptive relief, and provides relief for investments in short term obligations issued by parties in interest.
- OMB Control Number: 1210-0083 (expires 12/31/2018)
- Time Burden Per Response: 10 minutes
- Cost Burden Per Response: $0.00
PTE 1978-19
Application No. D-039
- Final Exemption: 43 FR 59915
- Correction: 42 FR 58225
- Proposed Exemption: 42 FR 54886
Permits insurance company pooled separate accounts in which plans invest to engage in certain transactions with parties in interest and to hold employer securities or employer real property.
PTE 1988-59
Application No. D-5600
- Clarification: See PTE 2002-13
- Correction: 53 FR 26907
- Correction: 53 FR 26560
- Final Exemption: 53 FR 24811
- Proposed Exemption: 49 FR 48236
Replaces and amends PTE 82-87, which permits various transactions involving the provision by plans of residential mortgage financing. The amendment expands the coverage of PTE 82-87 to include transactions involving mortgages on multifamily residential dwelling units and to mortgages which, but for their dollar value, would otherwise satisfy the terms of the exemption.
- OMB Control Number: 1210-0095 (expires 10/31/2022)
- Time Burden Per Response: 5 minutes
- Cost Burden Per Response: $0.00
PTE 1982-87
Application Nos. D-1937, D-2004
- Final Exemption: 47 FR 21331
- Proposed Exemption: 48 FR 58773
Permits plans to provide mortgage financing commitments to purchasers of certain residential dwelling units and later honor the commitments by making mortgage loans to purchasers of the units, as well as the sale, exchange or transfer of mortgage loans or participation interests in such mortgages.
PTE 1986-128
Application No. D-3970
- Adopted Amendment: 89 FR 32346
The effective date of the amendment has been stayed by court order pursuant to the following matters: Federation of Americans for Consumer Choice v. U.S. Department of Labor, No. 6:24-CV-163-JDK (E.D. Tex.) and American Council of Life Insurers v. U.S. Department of Labor, No. 4:24-CV-00482-O (N.D. Tex.). The Department of Justice has filed a notice of appeal in these matters. - Proposed Amendment: 88 FR 76032
- Adopted Amendment: 67 FR 64137
- Proposed Amendment: 67 FR 31838
- Final Exemption: 51 FR 41686
- Proposed Exemption: 50 FR 3427
Permits certain fiduciaries to receive compensation in connection with certain securities transactions entered into by plans and IRAs as long as the conditions are satisfied. Replaces and revokes PTEs 79-1 and 84-46.
- OMB Control Number: 1210-0059 (expires 08/31/2025)
- Time Burden Per Response: 1 minute
- Cost Burden Per Response: $1.07
PTE 1984-46
Application Nos. D-1366, D-1382
- Final Exemption: 49 FR 22157
- Proposed Exemption:47 FR 54576
Permits an insurance company to utilize its affiliates to effect or execute securities transactions in order to recapture brokerage commissions for the benefit of plans whose assets are maintained in pooled separate accounts managed by the insurance company.
PTE 1979-01
- Final Exemption: 44 FR 5963
- Proposed Exemption: 43 FR 55005
Permits plan fiduciaries to effect (agency) securities transactions for plans.
PTE 1985-68
Application No. D-5258
- Final Exemption: 50 FR 13293
- Proposed Exemption: 49 FR 32127
Supersedes PTE 79-9. Permits plans to purchase and hold customer notes which the plan sponsor has received in the ordinary course of business. The notes are collateralized by security agreements on equipment purchased by customers of the sponsor.
- OMB Control Number: 1210-0094 (expires 05/31/2020)
- Time Burden Per Response: 1 minute
- Cost Burden Per Response: $0.00
PTE 1979-09 [Expired]
Application No. D-639
- Final Exemption: 44 FR 17819
- Proposed Exemption: 42 FR 59321
Temporary exemption (expired July 1, 1984) which permits plans to purchase certain notes from plan sponsors where the plan sponsor receives such notes in the ordinary course of business and notes are collateralized by security agreements on equipment purchased by customers.
PTE 1984-24
Application Nos. D-447, D-1903
- Adopted Amendment: 89 FR 32302
The effective date of the amendment has been stayed by court order pursuant to the following matters: Federation of Americans for Consumer Choice v. U.S. Department of Labor, No. 6:24-CV-163-JDK (E.D. Tex.) and American Council of Life Insurers v. U.S. Department of Labor, No. 4:24-CV-00482-O (N.D. Tex.). The Department of Justice has filed a notice of appeal in these matters. - Proposed Amendment: 88 FR 76004
- Adopted Amendment: 71 FR 5887
- Proposed Amendment: 69 FR 55463
- Correction: 49 FR 24819
- Final Exemption: 49 FR 13208
- Proposed Exemption: 47 FR 14803
Permits certain transactions involving insurance contracts, annuities, and securities of investment companies registered under the Investment Company Act of 1940, between plans and IRAs and insurance agents and brokers, pension consultants, insurance companies and investment company principal underwriters who are parties in interest or fiduciaries, as long as the conditions are satisfied. Amends PTE 77-09.
- OMB Control Number: 1210-0158 (expires 08/31/2025)
- Time Burden Per Response: 10 minutes
- Cost Burden Per Response: $0.05
PTE 1977-09
Application Nos. D-183, D-301, D-419, D-459, D-466, D-473
- Adopted Amendment (2): 44 FR 52365
- Proposed Amendment (2): 44 FR 32310
- Adopted Amendment (1): 44 FR 1479
- Proposed Amendment (1): 43 FR 18354
- Final Exemption: 42 FR 32395
- Proposed Exemption: 41 FR 56760
Permits certain transactions involving plans, insurance agents and brokers, pension consultants, insurance companies and investment companies who are parties in interest or fiduciaries, in connection with purchase of insurance or annuity contracts, or purchase and sale of securities issued by an investment company.
PTE 1984-14
Application No. D-4850
- Entities Relying on the PTE 84-14 (Qualified Professional Asset Manager Exemption)
- Technical Correction to Final Amendment: 89 FR 65779
- Final Amendment: 89 FR 23090
- Proposed Amendment (3): 87 FR 45204
- Clarification: See PTE 2002-13
- Adopted Amendment (2): 75 FR 38837
- Proposed Amendment (2): 70 FR 49312
- Adopted Amendment (1): 70 FR 49305
- Proposed Amendment (1): 68 FR 52419
- Correction: 50 FR 41430
- Final Exemption: 49 FR 9494
- Proposed Exemption: 47 FR 56945
Permits various parties who are related to plans to engage in transactions involving plan assets if, among other conditions, the assets are managed by QPAMs which are independent of the parties in interest and which meet specified financial standards. Additional exemptive relief is provided for employers to furnish limited amounts of goods and services in the ordinary course of business. Limited relief is also provided for leases of office or commercial space between managed funds and QPAMs or contributing employers.
- OMB Control Number: 1210-0128 (expires 02/28/2023)
- Time Burden Per Response: 23 hours, 46 minutes
- Cost Burden Per Response: $9,902.09
PTE 1983-01
Application Nos. D-2789, D-3060
- Adopted Amendment: 89 FR 32346
The effective date of the amendment has been stayed by court order pursuant to the following matters: Federation of Americans for Consumer Choice v. U.S. Department of Labor, No. 6:24-CV-163-JDK (E.D. Tex.) and American Council of Life Insurers v. U.S. Department of Labor, No. 4:24-CV-00482-O (N.D. Tex.). The Department of Justice has filed a notice of appeal in these matters. - Proposed Amendment: 88 FR 76032
- Clarification: See PTE 2002-13
- Final Exemption: 48 FR 895
- Proposed Exemption: 47 FR 21325
Replaces and amends PTE 81-7, and expands the coverage to include pools containing loans secured by mortgages or deeds of trust which are other than first lien loans, and issuance of forward delivery commitments by investing plans to purchase pool certificates under certain circumstances, as long as the conditions are satisfied.
PTE 1981-07
Application Nos. D-1448, D-1449, D-1357, D-1447
- Correction: 46 FR 12363
- Final Exemption: 46 FR 7520
- Proposed Exemption: 45 FR 29937
Permits transactions related to the origination, maintenance, and termination of mortgage pool investment trusts and the acquisition and holding of certain mortgage-backed pass-through certificates by plans.
PTE 1981-82
Application No. D-780
- Final Revocation: 56 FR 54898
- Withdrawal of Related Proposed Exemption: 56 FR 54899
- Proposed Revocation: 56 FR 27543
- Related Proposed Exemption: 46 FR 46448
- Final Exemption: 46 FR 46443
- Proposed Exemption: 45 FR 51303
Permits certain transactions involving insurance company guaranteed separate account contracts in which plans invest. Revoked as of November 22, 1991.
PTE 1981-08
Application Nos. D-653, D-1204, D-1294
- Final Amendment: 87 FR 12985
- Proposed Amendment (2): 78 FR 37572
- Clarification: See PTE 2002-13
- Adopted Amendment (1): 50 FR 14043
- Proposed Amendment (1): 49 FR 27379
- Final Exemption: 46 FR 7511
- Proposed Exemption: 45 FR 28017
Permits plans to invest in certain short-term investment products such as banker's acceptances, commercial paper, repurchase agreements and certificates of deposit which are issued, sold or guaranteed by a party in interest. The amendment expands the categories of sellers with whom plans may enter into repurchase agreements, and permits a plan to invest in securities issued by banks which are parties in interest solely by reason of furnishing checking accounts or related services to a plan. The most recent proposed amendment would remove credit ratings requirements.
- OMB Control Number: 1210-0061 (expires 12/31/2020))
- Time Burden Per Response: 15 minutes
- Cost Burden Per Response: $0.23
PTE 1980-83
Application Nos. D-690
- Adopted Amendment: 89 FR 32346
The effective date of the amendment has been stayed by court order pursuant to the following matters: Federation of Americans for Consumer Choice v. U.S. Department of Labor, No. 6:24-CV-163-JDK (E.D. Tex.) and American Council of Life Insurers v. U.S. Department of Labor, No. 4:24-CV-00482-O (N.D. Tex.). The Department of Justice has filed a notice of appeal in these matters. - Proposed Amendment: 88 FR 76032
- Final Amendment: 87 FR 12985
- Proposed Amendment: 78 FR 37572
- Clarification: See PTE 2002-13
- Final Exemption: 45 FR 73189
- Proposed Exemption: 44 FR 44286
Permits purchases of securities by plans when proceeds may be used by the issuer to reduce or retire indebtedness to parties in interest, as long as the conditions are satisfied.
- OMB Control Number: 1210-0064 (expires 01/31/2026)
- Time Burden Per Response: 36 minutes
- Cost Burden Per Response: $0.00
PTE 1980-26
- Clarification: See PTE 2002-13
- Proposed Amendment (4): 78 FR 31584
- Adopted Amendment (3): 71 FR 17917
- Proposed Amendment (3): 69 FR 75088
- Adopted Amendment (2): 67 FR 9485
- Proposed Amendment (2): 66 FR 49703
- Adopted Amendment (1): 65 FR 17540
- Proposed Amendment (1): 64 FR 66666
- Correction: 45 FR 35040
- Final Exemption: 45 FR 28545
- Proposed Exemption: 45 FR 8761
Permits parties in interest to make unsecured interest-free loans to plans for plan operating expenses. A temporary amendment to 80-26 expanded the interest free loan exemption to address potential Y2K problems, from November 1, 1999 through December 31, 2000. A temporary amendment to 80-26 broadened the availability of PTE 80-26 to include certain interest-free loans to be used for a purpose incidental to the ordinary operations of a plan which arose in connection with difficulties encountered by the plan in liquidating or otherwise accessing its assets, or accessing its data in a timely manner, as a direct or indirect result of the September 11, 2001 disruption to the financial markets, from September 11, 2001 until January 9, 2002.
PTE 1979-60
Application Nos. D-985, D-040
- Final Exemption: 44 FR 59018
- Proposed Exemption: 44 FR 4027
Permits the sale of insurance or annuity contracts to a plan by an agent or broker who is the plan sponsor or a related person.
PTE 1979-41
Application Nos. D-391, D-461
- Final Exemption: 44 FR 46365
- Proposed Exemption: 43 FR 22800
Permits insurance companies that are substantially affiliated with sponsors of plans to sell insurance or annuity contracts to such plans.
PTE 1979-13
Application No. D-822
- Final Exemption: 44 FR 25533
- Proposed Exemption: 44 FR 7242
Permits the purchase and sale of shares of closed-end mutual funds by plans which cover only employees of either the mutual fund, its investment adviser or an affiliate.
PTE 1978-06
Application Nos. L-548, L-582
Permits the sale or lease of personal property and the lease of real property by collectively bargained multiemployer apprenticeship plans from contributing employers.
- OMB Control Number: 1210-0058 (expires 06/302022)
- Time Burden Per Response: 15 minutes
- Cost Burden Per Response: $0.00
PTE 1977-10
Application No. L-562
Extension of PTE 76-1 to cover ERISA section 406(b) (2).
- OMB Control Number: 1210-0058 (expires 06/30/2022)
- Time Burden Per Response: 15 minutes
- Cost Burden Per Response: $0.00
PTE 1976-01
- Correction: 41 FR 16620
- Final Exemption: 41 FR 12740
- Correction: 40 FR 25741
- Proposed Exemption: 40 FR 23798
Permits certain transactions between multiemployer plans and parties in interest involving delinquent employer contributions, construction loans, leasing of office space, provision of services and the sales of goods.
- OMB Control Number: 1210-0058 (expires 06/30/2022)
- Time Burden Per Response: 15 minutes
- Cost Burden Per Response: $0.00
PTE 1977-04
Application Nos. D-055
- Adopted Amendment: 89 FR 32346
The effective date of the amendment has been stayed by court order pursuant to the following matters: Federation of Americans for Consumer Choice v. U.S. Department of Labor, No. 6:24-CV-163-JDK (E.D. Tex.) and American Council of Life Insurers v. U.S. Department of Labor, No. 4:24-CV-00482-O (N.D. Tex.). The Department of Justice has filed a notice of appeal in these matters. - Proposed Amendment: 88 FR 76032
- Final Exemption: 42 FR 18732
- Proposed Exemption: 41 FR 50516
Permits the purchase and sale of open-end mutual fund shares by a plan or IRA when a fiduciary is also the investment adviser for the investment company marketing the mutual fund, as long as the conditions are satisfied.
- OMB Control Number: 1210-0049(expires 02/28/2026)
- Time Burden Per Response: 5 minutes
- Cost Burden Per Response: $0.00
PTE 1977-03
Application No. D-025
- Final Exemption: 42 FR 18734
- Proposed Exemption: 41 FR 54080
Permits the purchase and sale of open-end mutual fund shares by a plan which only covers employees of a mutual fund, its investment adviser or principal underwriter, or an affiliate.
PTE 1975-01
Application Nos. D-11184, D-11681
- Adopted Amendment: 89 FR 32346
The effective date of the amendment has been stayed by court order pursuant to the following matters: Federation of Americans for Consumer Choice v. U.S. Department of Labor, No. 6:24-CV-163-JDK (E.D. Tex.) and American Council of Life Insurers v. U.S. Department of Labor, No. 4:24-CV-00482-O (N.D. Tex.). The Department of Justice has filed a notice of appeal in these matters. - Proposed Amendment: 88 FR 76032
- Final Amendment: 87 FR 12985
- Proposed Amendment (2): 78 FR 37572
- Adopted Amendment (1): 71 FR 5883
- Proposed Amendment (1): 69 FR 23216
- Final Exemption: 40 FR 50845
- Proposed Exemption: 40 FR 33564
- Interim Extension (2): 40 FR 24578
- Interim Extension (1): 40 FR 17861
- Interim Exemption: 40 FR 5201
- Proposed Interim: 40 FR 2483
- Related Exemption: See PTE 1979-01, PTE 1986-128
Permits certain principal transactions, underwritings, market-making and extensions of credit between plans and IRAs, and broker-dealers, reporting dealers and banks as long as the conditions are satisfied.
- OMB Control Number: 1210-0092(expires 08/31/2025)
- Time Burden Per Response: 10 minutes
- Cost Burden Per Response: $0.00
Class Exemptions Applicable to FERSA
Applications for class exemptions under the Federal Employees' Retirement System Act of 1986 (FERSA) are handled by the Employee Benefits Security Administration's Office of Exemption Determinations (OED). The Department's Exemption Procedure Regulation provides the basic requirements and procedures needed to apply for exemptions from the prohibited transaction rules of FERSA.
Below is a historical list of exemptions that the Department has granted under FERSA. These exemptions may not reflect current law, policies, or procedures.
PTE T88-1 Exemption Application No. T-7840]
- Adopted Amendment: 57 FR 8689
- Proposed Amendment: 56 FR 25140
- Final Exemption: 53 FR 52838
- Proposed Exemption: 53 FR 38105
Adopts, for purposes of the prohibited transaction provisions of section 8477(c)(2) of the Federal Employees' Retirement System Act of 1986 (FERSA), the following prohibited transaction class exemptions granted pursuant to section 408(a) of the Employee Retirement Income Security Act of 1974 (ERISA):
- PTEs 75-1,
- 78-19 (redesignated as 90-1),
- 80-26,
- 80-51 (redesignated as 91-38),
- 82-63, and
- 86-128
Additional information on these exemptions is provided in their respective sections above.
PTE 1996-62
Application No. D-10031
- Clarification: See PTE 2002-13
- Adopted Amendment: 67 FR 44622
- Proposed Amendment: 67 FR 13019
- Final Exemption: 61 FR 39988
- Proposed Exemption: 60 FR 58376
Permits certain prospective transactions between plans and parties in interest where the transactions are specifically authorized by the Department and are subject to terms, conditions and representations which are substantially similar to two exemptions previously granted by the Department within the 60 months prior to the application. The amendment alternatively permits parties to rely on one individual exemption granted within the 120 months before the application and one transaction that received authorization from the Department under PTE 96-62 within the past 60 months.
- OMB Control Number: 1210-0098 (expires 10/31/2020)
- Time Burden Per Response: 1 minute
- Cost Burden Per Response: $5.82
PTE 2002-12
Application No. D-10851
Permits cross-trades of securities among index and model driven funds managed by investment managers, and among such funds and certain large accounts that engage investment managers to carry out a specific portfolio restructuring program or otherwise act as a "trading adviser" for cross-trading programs.
- OMB Control Number: 1210-0115 (expires 04/30/2022)
- Time Burden Per Response: 1 hour, 1 minute
- Cost Burden Per Response: $1.36