Notice2022-27334
Posting of Hearing Transcript Regarding Proposed Amendment to Prohibited Transaction Class Exemption 84-14 (the QPAM Exemption) and Closing of Reopened Comment Period
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Published
December 16, 2022
Issuing agencies
Labor DepartmentEmployee Benefits Security Administration
Abstract
As discussed in the DATES section below, the Department of Labor's Employee Benefits Security Administration (EBSA) is announcing that it has posted the transcript on its website of the virtual public hearing regarding the proposed amendment to prohibited transaction class exemption 84-14 (the QPAM Exemption) and determined the closing date for the proposed amendment's reopened comment period.
Full Text
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<title>Federal Register, Volume 87 Issue 241 (Friday, December 16, 2022)</title>
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[Federal Register Volume 87, Number 241 (Friday, December 16, 2022)]
[Notices]
[Pages 77140-77141]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-27334]
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DEPARTMENT OF LABOR
Employee Benefits Security Administration
[Application No. D-12022]
Z-RIN 1210 ZA07
Posting of Hearing Transcript Regarding Proposed Amendment to
Prohibited Transaction Class Exemption 84-14 (the QPAM Exemption) and
Closing of Reopened Comment Period
AGENCY: Employee Benefits Security Administration, Department of Labor.
ACTION: Notice of hearing transcript posting and closing of the
reopened comment period.
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SUMMARY: As discussed in the DATES section below, the Department of
Labor's Employee Benefits Security Administration (EBSA) is announcing
that it has posted the transcript on its website of the virtual public
hearing regarding the proposed amendment to prohibited transaction
class exemption 84-14 (the QPAM Exemption) and determined the closing
date for the proposed amendment's reopened comment period.
DATES: The public hearing transcript was posted to EBSA's website on
December 12, 2022, and the reopened comment period for the proposed
amendment will close on January 6, 2023.
ADDRESSES: Please submit all written comments to the Office of
Exemption Determinations through the Federal eRulemaking Portal at
<a href="http://www.regulations.gov">www.regulations.gov</a> at Docket ID number: EBSA-2022-0008.
FOR FURTHER INFORMATION CONTACT: Erin Scott Hesse, Office of Exemption
Determinations, Employee Benefits Security Administration, U.S.
Department of Labor. Telephone: (202) 693-8546 (this is not a toll-free
number).
SUPPLEMENTARY INFORMATION: The Department published a proposed
amendment to prohibited transaction class exemption 84-14 (the Proposed
QPAM Exemption Amendment) on July 27, 2022, with a 60-day comment
period that was set to expire on September 26, 2022.\1\ After the
publication of the Proposed QPAM Exemption Amendment, the Department
received two letters requesting an extension of the comment period for
at least an additional 60 days.\2\ After carefully considering the
extension request, the Department extended the initial comment period
for an additional 15 days until October 11, 2022 (for 75-day total
initial comment period) in a Federal Register notice published on
September 9, 2022.\3\ The Department received 31 comment letters.
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\1\ 87 FR 45204.
\2\ See Public Comment #1 from American Bankers Association et
al. and Public Comment #2 from American Retirement Association. The
extension requests can be accessed here: <a href="https://www.dol.gov/sites/dolgov/files/EBSA/laws-and-regulations/rules-and-regulations/public-comments/1210-ZA07/">https://www.dol.gov/sites/dolgov/files/EBSA/laws-and-regulations/rules-and-regulations/public-comments/1210-ZA07/</a>.
\3\ 87 FR 54715.
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In the same September 9, 2022, Federal Register notice, the
Department announced on its own motion that it would hold a virtual
public hearing on November 17, 2022 (and if necessary, on November 18,
2022), to provide an opportunity for all interested parties to testify
on material information and issues regarding the Proposed QPAM
Amendment.\4\ The Department received 13 requests to testify at the
hearing.
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\4\ Id.
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The notice also indicated the Department would: (1) reopen the
public comment period from the hearing date until approximately 14 days
after the Department publishes the hearing transcript on EBSA's
website; and (2) publish a Federal Register notice announcing that it
has posted the
[[Page 77141]]
hearing transcript to EBSA's website and the date the reopened comment
period closes.
The Department held the virtual public hearing on November 17,
2022, and reopened the comment period on the hearing date.\5\ The
Department is hereby providing notice that it posted the hearing
transcript to EBSA's website on December 12, 2022, and determined that
the reopened comment period will close on January 6, 2023. The hearing
transcript may be accessed here: <a href="https://www.dol.gov/agencies/ebsa/laws-and-regulations/rules-and-regulations/public-comments/1210-ZA07">https://www.dol.gov/agencies/ebsa/laws-and-regulations/rules-and-regulations/public-comments/1210-ZA07</a>.
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\5\ The hearing did not continue on November 18, 2022, because
the Department was able to schedule all witnesses that requested to
testify on one day.
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The Department encourages all interested parties to submit comments
on the proposed amendment before the reopened comment period closes.
All written comments should be identified by Z-RIN 1210 ZA07 and sent
to the Office of Exemption Determinations through the Federal
eRulemaking Portal: <a href="https://www.regulations.gov">https://www.regulations.gov</a> at Docket ID number:
EBSA-2022-0008. Please follow the instructions for submitting comments.
All comments on the proposed amendment and requests to testify at
the hearing are available to the public without charge online at
<a href="https://www.regulations.gov">https://www.regulations.gov</a> at Docket ID number: EBSA-2022-0008 and
<a href="https://www.dol.gov/agencies/ebsa/laws-and-regulations/rules-and-regulations/public-comments/1210-ZA07">https://www.dol.gov/agencies/ebsa/laws-and-regulations/rules-and-regulations/public-comments/1210-ZA07</a>. They also are available for
public inspection in EBSA's Public Disclosure Room, U.S. Department of
Labor, Room N-1513, 200 Constitution Avenue NW, Washington, DC 20210.
Signed at Washington, DC, this 12th day of December 2022.
Lisa M. Gomez,
Assistant Secretary, Employee Benefits Security Administration, U.S.
Department of Labor.
[FR Doc. 2022-27334 Filed 12-15-22; 8:45 am]
BILLING CODE 4510-29-P
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</html>Indexed from Federal Register on December 16, 2022.
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