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Chronological
Listing
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Grant; PTE-2005-03
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D-11165
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G:
70 FR 5703 (02/03/05)
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P:
69 FR 64784 (11/08/04)
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National Electrical Benefit Fund
(the Plan)
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Permits, effective April 1, 2003,
(1) the collateral assignment, by the Plan, of its
rights and interests in the Stonegate at Bellefaire,
LLC (the LLC), a real estate operating company, to
M&T Real Estate, Inc. (the Senior Lender), a party
in interest with respect to the Plan; and (2) the
guaranty by the Plan, executed in favor of the Senior
Lender, requiring the Plan to reimburse the Senior
Lender for any losses the Senior Lender may incur as a
result of certain affirmative “bad acts” that are
committed by the Plan as a member of the LLC.
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Grant; PTE-2005-08
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D-11267 |
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G: 70 FR 37441 (06/29/05)
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P: 70 FR 14719 (03/23/05)
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Mutual Service Life Insurance Company (MSL) |
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Permits, effective January 1, 2005, the receipt of cash or policy credits by any eligible member (Eligible Member), including an Eligible Member which is an employee benefit plan (within the meaning of section 3(3) of Act), an individual retirement annuity (within meaning of section 408(b) or 408(A) of the Code), or a tax sheltered annuity (within the meaning of section 403(b) of the Code) (each a Plan), including Plans sponsored by MSL for its employees, in exchange for the termination of such Eligible Member’s membership interest in MSL, in accordance with the terms of a plan of conversion adopted by MSL and implemented pursuant to Minnesota Statutes Section 60A.075 (2003). |
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Grant; PTE-2005-05
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D-11212
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G:
70 FR 25614 (05/13/05)
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P:
70 FR 14718 (03/23/05)
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R. G. Dailey Company, Inc. Defined
Benefit Plan (the Plan)
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Permits the in kind contributions
made to the Plan on August 12, 1999, June 12, 2000,
May 17, 2001, and March 21, 2002 by the R. G. Dailey
Company, Inc., a disqualified person with respect to
the Plan, of certain publicly-traded securities.
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Grant; PTE-2005-04
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L-11200
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G:
70 FR 5703 (02/03/05)
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P:
69 FR 69623 (11/30/04)
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Wheeling-Pittsburgh Corporation (WPC)
and Wheeling Pittsburgh Steel Corporation (WPSC)
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Permits (1) the initial acquisition
of 4 million shares, on August 1, 2003 (the Initial
Shares), of publicly-traded Employer Stock through the
in kind contribution of such Initial Shares, and
subsequent in kind acquisitions of Employer Stock, by
the Wheeling-Pittsburgh Steel Corporation Retiree
Benefits Plan (the Plan) for the purpose of
pre-funding welfare benefits provided by the Plan; (2)
the holding by the Plan of Employer Stock acquired
pursuant to the contributions; and (3) the extension
of credit between WPC, WPSC and the Plan, which will
occur in conjunction with WPC’s and WPSC’s
contributions of Employer Stock and cash for the
benefit of the retirees.
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Grant; PTE-2005-02
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D-11259
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G:
70 FR 5702 (02/03/05)
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P:
69 FR 64787 (11/08/04)
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Roy A. Herberger Defined Benefit
Pension Plan (the Plan)
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Permits the three past in kind
contributions to the Plan of common stock of Pinnacle
West Capital Corporation by Roy A. Herberger, Jr., a
disqualified person with respect to the Plan.
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Grant; PTE-2005-17
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D-11328 |
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G:
70 FR 76888 (12/28/05)
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P:
70 FR 66854 (11/03/05)
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George N. Newton, Individual
Retirement Account (the IRA) |
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Permits the proposed arrangement involving the in kind
distributions by the IRA to Mr. George F. Newton, a disqualified person with
respect to the IRA, in two installments of 50 percent (50%) each, of the IRA’s
ownership interest in an unencumbered, improved parcel of real property located
in San Antonio, Texas, in connection with the required minimum distribution
rules under the Internal Revenue Code of 1986, as amended.
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Grant; PTE-2005-16
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D-11231 |
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G:
70 FR 76886 (12/28/05)
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P:
70 FR 47246 (08/12/05)
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Wachovia Corporation (Wachovia) |
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Permits, effective January 2, 2002, (1) the in kind transfer
by the Wachovia Retirement Savings Plan (the Plan) of its shares in the Wachovia
Equity Index Fund (the Index Fund), a mutual fund in which Evergreen Investment
Company, LLC, a wholly owned subsidiary of Wachovia, the Plan sponsor, serves as
the investment adviser, to the Wachovia Enhanced Stock Market Fund (the Enhanced
Fund), a bank collective investment fund, also maintained by Wachovia in
exchange for Enhanced Fund units; and (2) the in kind redemption by the Enhanced
Fund of the Index Fund shares received on behalf of the Plan in return for a pro
rata distribution of cash and transferable securities held by the Index Fund.
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Grant; PTE-2005-15
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L-11316 |
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G: 70 FR 66859 (11/03/05)
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P: 70 FR 47252 (08/12/05)
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Dakotas and Western Minnesota Electrical Workers Apprenticeship Plan (the
Plan) |
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Permits the lease of a portion of a parcel of improved real property by the
Plan from the Dakotas Chapter of the National Electrical Contractors
Association, a party in interest with respect to the Plan.
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Grant; PTE-2005-14
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D-11175 |
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G: 70 FR 66859 (11/03/05)
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P: 70 FR 37434 (06/29/05)
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Milan Uremovich, D.D.S., P.C. Profit Sharing Plan and Trust (the Plan) |
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Permits the leasing by the individual account in the Plan of Dr. Milan
Uremovich, of certain office space to Milan Uremovich, D.D.S., P.C., a party in
interest with respect to the Plan.
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Grant; PTE-2005-07
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D-10993 and L-10994
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G: 70 FR 37440 (06/29/05) |
P: 70 FR 14716 (03/23/05) |
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PAMCAH-UA Local 675 Pension Plan (the Pension Plan) and the PAMCAH-UA Local 675 Training Plan (the Training Fund; collectively, the Plans) |
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Permits (1) the Training Fund’s purchase of an improved parcel of real property located at 731 Kamehameha Highway, Pearl City, Hawaii from the Plan; and (2) a loan from the Pension Plan to the Training Fund to finance the purchase. |
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Adoption of Amendment
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D-11246
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G: 70 FR 68092 (11/09/05)
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P: 70 FR 5699 (02/03/05)
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Bankers Trust Company (BT), Deutsche Bank Trust Company Americas (DBTCA), and
Deutsche Bank, AG
Amends PTE 99-29 (64 FR 40623, July 27, 1999), an exemption granted to BT.
PTE 99-29 permits DBTCA (formerly known as BT) to continue to function as a
qualified professional asset manager (QPAM) under PTE 84-14 (49 FR 9494, March
13, 1984), for the period March 11, 1999 and ending July 27, 2004, despite the
fact that it had been convicted of several felonies. The amendment is effective
January 31, 2003.
A condition of PTE 99-29 requires that Bankers Trust be subject to an annual
audit.
In January 2003, Deutsche Bank sold its custodial business to State Street,
and as of January 31, 2004, DBTCA no longer had custody of ERISA assets. The
amendment would limit the auditing requirements to any year or part thereof in
which DBTCA held ERISA covered plan assets in custody. The effective date of PTE
99-29 was extended to July 27, 2009.
Lastly, the applicant sought clarification on whether the relief provided by
the exemption would continue to be available now that records are maintained by
State Street, and if so, whether or not State Street must maintain these records
for fifteen years. As noted in the summary of facts and representations of the
notice of proposed exemption for PTE 99-29, (64 FR 30360, 30364, June 7, 1999),
the applicant represented that check ledgers, cancelled checks and class action
records are to be maintained for 15 years. Further, all escheatment records are
to be kept indefinitely. In the proposed amendment to 99-29, the Department
concurred with the applicant that as a result of Deutsche Bank’s sale to State
Street, the fifteen-year record retention policy described in PTE 99-29 would no
longer be feasible. The Department stated that it believed that the six-year
period described in section 107 of ERISA would provide a sufficient time period
to enable individuals to obtain the information contained in these records.
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Grant; PTE-2005-06
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D-11310
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G:
70 FR 25614 (05/13/05)
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P:
70 FR 14729 (03/23/05)
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Riggs Bank N.A. (Riggs) and the PNC
Financial Services Group, Inc. (PNC)
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Permits Riggs to not be precluded
from functioning as a “qualified professional asset
manager” pursuant to Prohibited Transaction
Exemption 84-14 (49 FR 9494, March 13, 1984) (PTE
84-14) beginning on the date of the acquisition of
Riggs National Corporation, the parent of Riggs, by
PNC, solely because of a failure to satisfy Section
I(g) of PTE 84-14 as a result of the conviction of
Riggs for the felony described in the January 27, 2005
felony information entered in the U.S. District Court
for the District of Columbia.
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Grant; PTE-2005-09
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D-11277 |
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G: 70 FR 37443 (06/29/05)
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P: 70 FR 14726 (03/23/05)
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O: 70 FR 41056 (07/15/05) (Notice of Technical Correction) |
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Liberty Media International Inc. (LMI) |
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Permits, effective July 26, 2004, (1) the acquisition by the
Liberty Media 401(k) Savings Plan - Puerto Rico (the
Plan) of certain stock rights (the Rights) pursuant to a stock rights offering (the Offering) by LMI, the Plan sponsor and a party in interest with respect to the Plan; (2) the holding of the Rights by the Plan during the subscription period of the Offering; and (3) the disposition or exercise of the Rights by the Plan. |
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Grant; PTE-2005-13
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D-11305 |
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G:
70 FR 47245 (08/12/05)
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P:
70 FR 25608 (05/13/05)
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Best Business Products, Inc.
Employee Stock Ownership Plan (the ESOP) |
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Permits, effective July 7, 2004,
(1) the purchase from the ESOP by Best Business
Products, Inc. (BBP), a party in interest with respect
to the ESOP, of shares of the voting common stock of
BBP (the Stock) which were allocated to the accounts
of the participants in the ESOP; and (2) the transfer
to BBP of shares of the Stock which were held by the
ESOP in a suspense account in exchange for the
assumption by BBP of the ESOP's obligation to pay the
balance of a note to Betty B. Best, a party in
interest with respect to the ESOP. |
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Grant; PTE-2005-11
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D-11185 |
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G:
70 FR 47236 (08/12/05)
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P:
69 FR 13894 (03/24/04)
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The UNITE National Retirement Fund
(the Fund) |
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Permits the proposed purchase by
the Union of Needletrades, Industrial and Textile
Employees (UNITE) and certain regional entities
affiliated with and chartered by UNITE from the Fund
of shares of perpetual cumulative convertible
preferred stock representing fifteen percent (15%) of
the outstanding equity interests in the ALICO Services
Corporation a wholly-owned entity of the Fund. |
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Grant; PTE-2005-01
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D-11211
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G:
70 FR 5702 (02/03/05)
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P:
69 FR 69621 (11/30/04)
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J.C.O., Inc. Retirement Plan and
Trust (the Plan)
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Permits (1) the cash sale of
certain improved real property (the Property) to the
Plan by Cynthia G. Vogels, a party in interest with
respect to the Plan and a 50% shareholder of J.C.O.,
Inc., (JCO), the Plan sponsor; and (2) the
simultaneous lease of the Property by the Plan to JCO.
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Grant; PTE-2005-12
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D-11249 |
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G:
70 FR 47243 (08/12/05)
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P:
70 FR 25602 (05/13/05)
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BNP Paribas S.A. (BNP Paribas) and
Its French Affiliates (the French Affiliates) |
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Permits the purchase or sale of a
security between BNP Paribas, a bank established under
the laws of France, and any French Affiliate or branch
of BNP Paribas which is a bank regulated by the
Commission Bancaire or a broker-dealer holding a
securities dealer's license issued by the Comité des
Etablissements de Crédit et des Enterprises
d'Investissement or registered with the Autorité des
Marchés Financiers (each a BNP Entity), and employee
benefit plans (the Plans) with respect to which the
BNP entity is a party in interest, including options
written by a Plan or the BNP Entity. Would also permit
any extension of credit to a Plan by a BNP Entity to
permit the settlement of securities transactions,
regardless of whether they are effected on an agency
or a principal basis, or in connection with the
writing of options contracts. Further, would permit
the lending of securities that are assets of a Plan to
a BNP Entity. |
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