PTE 2011-22 Russell Trust Company [Application No. D-11608]

 
Docket ID: EBSA-2011-0022
Agency: Employee Benefits Security Administration (EBSA)
Parent Agency: Department of Labor (DOL)
Summary:
The restrictions of sections 406(a)(1)(A), (a)(1)(B), (a)(1)(D), 406(b)(1) and 406(b)(2) of the Act, and the sanctions resulting from the application of section 4975 of the Code, by reason of section 4975(c)(1)(A), (c)(1)(B), (c)(1)(D), and (c)(1)(E) of the Code, shall not apply, between September 14, 2009 and September 10, 2010, inclusive, to an arrangement involving the following transactions: (1) The extension of credit, through a revised capital support agreement, to certain employee benefit plans (the Plans) invested, directly or indirectly, in the Russell Securities Lending Short- Term Investment Fund (the SecLending Fund) by the Frank Russell Company (FRC), the parent company of RTC and a party in interest with respect to the Plans, in connection with the SecLending Fund’s holding of certain notes (the Notes) issued by Lehman Brothers Holdings Inc. or its affiliates (the Revised SecLending Fund CSA); (2) The extension of credit, through a revised capital support agreement, to certain Plans invested, directly or indirectly, in the RTC Russell Liquidity Fund (the Liquidity Fund) by FRC in connection with the Liquidity Fund’s holding of the Notes (the Revised Liquidity Fund CSA); (3) The provision of a revised guarantee to FRC by its parent company, the Northwest Mutual Life Insurance Company (NML), a party in interest with respect to the Plans, in order to ensure FRC’s foregoing capital support obligation to the SecLending Fund (the Revised SecLending Fund Guarantee); (4) The provision of a revised guarantee to FRC by NML in order to ensure FRC’s foregoing capital support obligation to the Liquidity Fund (the Revised Liquidity Fund Guarantee); (5) The accrual and periodic payment of certain supplemental yield contributions by FRC to the SecLending Fund (the SecLending Fund Supplemental Yield Contributions); and (6) The accrual and periodic payment of certain supplemental yield contributions by FRC to the Liquidity Fund (the Liquidity Fund Supplemental Yield Contributions).
Docket Details open glossary dialog  
Related RINs: None
Related Dockets: None
Type: Nonrulemaking
 

Primary Documents

View All  (2)
Comment Period Closed
Notice
Posted: 01/18/2012
ID: EBSA-2011-0022-0002
Comment Period Closed
Notice
Posted: 08/19/2011
ID: EBSA-2011-0022-0001

Supporting Documents

 
No documents available.

Comments

 
No comments posted.

0
Comments Received*
*This count refers to the total comment/submissions received on this docket, as of 11:59 PM yesterday. Note: Agencies review all submissions, however some agencies may choose to redact, or withhold, certain submissions (or portions thereof) such as those containing private or proprietary information, inappropriate language, or duplicate/near duplicate examples of a mass-mail campaign. This can result in discrepancies between this count and those displayed when conducting searches on the Public Submission document type. For specific information about an agency’s public submission policy, refer to its website or the Federal Register document.