Notice2022-01236
Withdrawal of Notice of Proposed Exemption Involving the Retirement System of the American National Red Cross Located in Washington, DC
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 24, 2022
Issuing agencies
Labor DepartmentEmployee Benefits Security Administration
Abstract
This document provides withdrawal of a notice of pendency before the Department of Labor (the Department) of a proposed individual exemption from certain of the prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA) and/or the Internal Revenue Code of 1986 (the Code).
Full Text
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<title>Federal Register, Volume 87 Issue 15 (Monday, January 24, 2022)</title>
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[Federal Register Volume 87, Number 15 (Monday, January 24, 2022)]
[Notices]
[Page 3588]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-01236]
[[Page 3588]]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
[Exemption Application No. D-12002]
Withdrawal of Notice of Proposed Exemption Involving the
Retirement System of the American National Red Cross Located in
Washington, DC
AGENCY: Employee Benefits Security Administration, Labor.
ACTION: Notice of withdrawal of proposed exemption.
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SUMMARY: This document provides withdrawal of a notice of pendency
before the Department of Labor (the Department) of a proposed
individual exemption from certain of the prohibited transaction
restrictions of the Employee Retirement Income Security Act of 1974
(ERISA) and/or the Internal Revenue Code of 1986 (the Code).
FOR FURTHER INFORMATION CONTACT: Anna Vaughan of the Department at
(202) 693-8565. (This is not a toll-free number.)
Withdrawal of Proposed Exemption
In the Federal Register dated November 18, 2021 (86 FR 64688), the
Department of Labor (the Department) published a notice of proposed
exemption (the Notice) from ERISA and the Code.
The Notice proposed the following transactions: (a) The in-kind
contribution (the Contribution) by the American National Red Cross (the
Red Cross) of nine condominium units located at 2025 E Street NW,
Washington DC to the Retirement System of The American National Red
Cross (the Plan); and (b) the assignment of certain rights and
obligations from the Red Cross to the Plan in connection with the
Contribution.
Subsequent to the publication of the Notice in the Federal
Register, the Red Cross informed the Department that the Red Cross had
decided not to pursue the requested exemption, due to changed
circumstances.
Therefore, under the authority of ERISA Section 408(a) and Code
Section 4975(c)(2) the Department is hereby withdrawing the Notice from
the Federal Register.
Signed at Washington, DC.
George Christopher Cosby,
Acting Director, Office of Exemption Determinations, Employee Benefits
Security Administration, U.S. Department of Labor.
[FR Doc. 2022-01236 Filed 1-21-22; 8:45 am]
BILLING CODE 4510-29-P
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</html>Indexed from Federal Register on January 24, 2022.
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