29 CFR 2550.407d-5 - Definition of the term

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There is 1 rule appearing in the Federal Register for 29 CFR Part 2550. View below or at eCFR (GPOAccess)
§ 2550.407d-5 Definition of the term “qualifying employer security”.
(a) In general. For purposes of this section and section 407(d)(5) of the Employee Retirement Income Security Act of 1974 (the Act), the term “qualifying employer security” means an employer security which is:
(1) Stock; or
(2) A marketable obligation, as defined in paragraph (b) of this section and section 407(e) of the Act.
(b) For purposes of paragraph (a)(2) of this section and section 407(d)(5) of the Act, the term “marketable obligation” means a bond, debenture, note, or certificate, or other evidence of indebtedness (hereinafter in this paragraph referred to as “obligation”) if:
(1) Such obligation is acquired—
(i) On the market, either—
(A) At the price of the obligation prevailing on a national securities exchange which is registered with the Securities and Exchange Commission, or
(B) If the obligation is not traded on such a national securities exchange, at a price not less favorable to the plan than the offering price for the obligation as established by current bid and asked prices quoted by persons independent of the issuer;
(ii) From an underwriter, at a price—
(A) Not in excess of the public offering price for the obligation as set forth in a prospectus or offering circular filed with the Securities and Exchange Commission, and
(B) At which a substantial portion of the same issue is acquired by persons independent of the issuer; or
(iii) Directly from the issuer at a price not less favorable to the plan than the price paid currently for a substantial portion of the same issue by persons independent of the issuer;
(2) Immediately following acquisition of such obligation,
(i) Not more than 25 percent of the aggregate amount of obligations issued in such issue and outstanding at the time of acquisition is held by the plan, and
(ii) At least 50 percent of the aggregate amount referred to in paragraph (A) is held by persons independent of the issuer; and
(3) Immediately following acquisition of the obligation, not more than 25 percent of the assets of the plan is invested in obligations of the employer or an affiliate of the employer.
[42 FR 44388, Sept. 2, 1977]

Title 29 published on 2013-07-01.

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  • 2015-03-19; vol. 80 # 53 - Thursday, March 19, 2015
    1. 80 FR 14301 - Fiduciary Requirements for Disclosure in Participant-Directed Individual Account Plans—Timing of Annual Disclosure
      GPO FDSys XML | Text
      DEPARTMENT OF LABOR, Employee Benefits Security Administration
      Direct final rule.
      Effective date: This rule is effective June 17, 2015, without further action or notice, unless significant adverse comment is received by April 20, 2015. If significant adverse comment is received, the Employee Benefits Security Administration (EBSA) will publish a timely withdrawal of the rule in the Federal Register . Applicability date: The amendment is applicable to disclosures made on or after June 17, 2015.
      29 CFR Part 2550

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Reorganization ... 1978 Plan No. 4

Title 29 published on 2013-07-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 29 CFR Part 2550 after this date.

  • 2015-04-20; vol. 80 # 75 - Monday, April 20, 2015
    1. 80 FR 21960 - Proposed Best Interest Contract Exemption
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      DEPARTMENT OF LABOR, Employee Benefits Security Administration
      Notice of Proposed Class Exemption.
      Comments: Written comments concerning the proposed class exemption must be received by the Department on or before July 6, 2015. A pplicability: The Department proposes to make this exemption available eight months after publication of the final exemption in the Federal Register . We request comment below on whether the applicability date of certain conditions should be delayed.
      29 CFR Part 2550