Search Results for keywords:"Employee Benefits Security Administration"

The Department of Labor is requesting public comments on a proposed data collection related to the Genetic Information Nondiscrimination Act of 2008 (GINA). This proposal involves research exceptions for genetic testing within group health plans and insurance, ensuring that participation is voluntary and does not affect eligibility or benefits. The public can submit comments until April 30, 2025, via the specified website. The aim is to gather feedback on the necessity, accuracy, and burden of this data collection process.

The Department of Labor (DOL) is asking for public comments on a request for information about insurance company pooled separate accounts. This request is being submitted to the Office of Management and Budget (OMB) for approval as required by the Paperwork Reduction Act. The feedback is due by April 14, 2025, and aims to ensure that the collection of information is useful, accurate, and not too burdensome. PTE 90-1 is the specific rule involved, which provides certain exemptions from restrictions for transactions involving insurance company accounts.

The Department of Labor is asking for public comments on an information collection request related to employee benefits laws. This request has been submitted to the Office of Management and Budget (OMB) for approval as per the Paperwork Reduction Act. Comments are due by February 16, 2021, and can be submitted through the regulations website. The department aims to ensure the collected information is useful, accurate, and not overly burdensome for respondents.

The U.S. Department of Labor's Employee Benefits Security Administration granted an exemption allowing the Associated General Contractors of America, San Diego Chapter, Inc. to lease its training facility to its Apprenticeship and Training Fund under specific conditions. The agreement ensures the Plan pays fair market rent, verified by an independent fiduciary, and that the lease benefits participants by providing effective training facilities. The fiduciary also monitors compliance with the lease terms and any rent increases must adhere to changes in the Consumer Price Index. This exemption is designed to avoid conflicts with ERISA's prohibited transaction rules.

The Department of Labor (DOL) is seeking approval from the Office of Management and Budget (OMB) for an information collection request related to the definition of "plan assets" involving participant contributions to employee benefit plans. This request is being managed by the Employee Benefits Security Administration (EBSA) and is part of adhering to the Paperwork Reduction Act. The regulation details the timeframes within which contributions must become plan assets and outlines the requirements for employers who need an extension to meet these deadlines. The DOL invites public comments on various aspects of this information collection, including its necessity, utility, and potential burden on businesses.

The Department of Labor is asking for public comments on an information collection request related to the acquisition and sale of Real Estate Investment Trust (REIT) shares by individual account plans. This request aims to ensure compliance with specific legal exemptions allowing certain transactions that would otherwise be prohibited. The public is invited to provide feedback on the necessity, accuracy, and methods of collecting the information by April 28, 2025. The information collection is under review for a potential three-year authorization by the Office of Management and Budget.

The Department of Labor's Employee Benefits Security Administration (EBSA) is inviting public comments on the continuation and extension of different information collection requests (ICRs) related to employee benefit plans. These ICRs cover various topics, including health plan enrollment notices, multiple employer welfare arrangements, and reporting procedures for top hat plans, among others. The public can submit their comments by March 7, 2025, and these comments will assist the Department in assessing the impact and effectiveness of these information requirements. The ICRs aim to help reduce the public's reporting burden and improve the understanding of the Department's data collection needs.

The Department of Labor is requesting public comments on an information collection process related to a financial exemption that allows employee benefit plans to invest in mutual funds under specific conditions. This exemption requires banks or plan advisers to disclose details to independent fiduciaries before any asset transfers and provide regular updates afterward. Comments are being solicited on several aspects, including the need and practicality of the information collection, accuracy in estimating the associated burdens, and suggestions for improving the process. The Department seeks to maintain authorization for this collection for three years, during which it remains subject to review and approval by the Office of Management and Budget.

The Department of Labor has amended Prohibited Transaction Exemption (PTE) 2002-51, linked to the Voluntary Fiduciary Correction (VFC) Program, which aims to help correct breaches in fiduciary duties without facing penalties. These changes include a new self-correction feature allowing certain plan contributions to be fixed without filing a full application, and updates to improve notice procedures to interested parties while providing an appendix with a model notice. The amendment aims to make it easier and less expensive for employers to correct errors and comply with regulations under the VFC Program.

The Department of Labor has updated the Voluntary Fiduciary Correction Program (VFC Program) to simplify the process of correcting fiduciary breaches under the Employee Retirement Income Security Act (ERISA). These updates add a self-correction feature for common plan issues like late participant contributions, streamline procedures for program participation, and incorporate changes from the SECURE 2.0 Act allowing self-correction for certain participant loan failures. The goal is to make the program more user-friendly for employers and other plan fiduciaries, encouraging compliance with the law and avoiding potential civil penalties.