Labor Department, Employee Benefits Security Administration
Prohibited Transaction Exemption (PTE) 2014-06 provided an exemption for AT&T to contribute approximately $9.21 billion of employer securities (the Preferred Interests) and other assets to the AT&T Pension Benefit Plan (the Plan). This notice amends PTE 2014-06 to permit certain modifications (the Modifications) that were made with respect to the terms and provisions governing the Plan's holding and disposition of the Preferred Interests. Absent this amendment to PTE 2014-06 (Exemption Amendment), the Modifications would have resulted in violations of the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and/or the Internal Revenue Code of 1986 (the Code).
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of Labor Employee Benefits Security Administration [Prohibited Transaction Exemption 2014-06; Application Number D-11981] AGENCY: Employee Benefits Security Administration, Labor. ACTION: Notice of Exemption Amendment. SUMMARY: Prohibited Transaction Exemption (PTE) 2014-06 provided an exemption for AT&T to contribute approximately $9.21 billion of employer securities (the Preferred Interests) and other assets to the AT&T Pension Benefit Plan (the Plan). This notice amends PTE 2014-06 to permit certain modifications (the Modifications) that were made with respect to the terms and provisions governing the Plan's holding and disposition of the Preferred Interests. Absent this amendment to PTE 2014-06 (Exemption Amendment), the Modifications would have resulted in violations of the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and/or the Internal Revenue Code of 1986 (the Code). DATES: Exemption date: Pursuant to this Exemption Amendment: Sections I, II and III of PTE 2014-06 are in effect from September 9, 2013, through October 14, 2018; and Sections IV, V, VI, and VII of PTE 2014-06, which are added by this Exemption Amendment, are in effect from October 15, 2018, through April 5, 2023. FOR FURTHER INFORMATION CONTACT: Anna Vaughan, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor, (202) 693-8540 (this is not a toll-free number). SUPPLEMENTARY INFORMATIO…
Other Federal Register documents from the same docket.
Citation: 91 FR 48942
