Grant of Individual Exemptions; Blue Cross and Blue Shield of Virginia

DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration

[Prohibited Transaction Exemption 96-87; Exemption Application No. D-

09990, et al.]

Grant of Individual Exemptions; Blue Cross and Blue Shield of

Virginia

ACTION: Grant of individual exemptions.

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SUMMARY: This document contains exemptions issued by the Department of

Labor (the Department) from certain of the prohibited transaction

restrictions of the Employee Retirement Income Security Act of 1974

(the Act) and/or the Internal Revenue Code of 1986 (the Code).

Notices were published in the Federal Register of the pendency

before the Department of proposals to grant such exemptions. The

notices set forth a summary of facts and representations contained in

each application for exemption and referred interested persons to the

respective applications for a complete statement of the facts and

representations. The applications have been available for public

inspection at the Department in Washington, D.C. The notices also

invited interested persons to submit comments on the requested

exemptions to the Department. In addition the notices stated that any

interested person might submit a written request that a public hearing

be held (where appropriate). The applicants have represented that they

have complied with the requirements of the notification to interested

persons. No public comments and no requests for a hearing, unless

otherwise stated, were received by the Department.

The notices of proposed exemption were issued and the exemptions

are being granted solely by the Department because, effective December

31, 1978, section 102 of Reorganization Plan No. 4 of 1978 (43 FR

47713, October 17, 1978) transferred the authority of the Secretary of

the Treasury to issue exemptions of the type proposed to the Secretary

of Labor.

Statutory Findings

In accordance with section 408(a) of the Act and/or section

4975(c)(2) of the Code and the procedures set forth in 29 CFR Part

2570, Subpart B (55 FR 32836, 32847, August 10, 1990) and based upon

the entire record, the Department makes the following findings:

(a) The exemptions are administratively feasible;

(b) They are in the interests of the plans and their participants

and beneficiaries; and

(c) They are protective of the rights of the participants and

beneficiaries of the plans.

Blue Cross and Blue Shield of Virginia (the Company) Located in

Richmond, VA; Exemption

[Prohibited Transaction Exemption 96-87; Exemption Application No. D-

09990]

Section I. Covered Transactions

The restrictions of section 406(a) of the Act and the sanctions

resulting from the application of section 4975 of the Code, by reason

of section 4975(c)(1) (A) through (D) of the Code, shall not apply to

the proposed receipt of cash and/or common stock (the Stock) of Trigon

Healthcare, Inc. (Trigon), the Company's sole owner, by any employee

benefit plan policyholder of the Company (the Plan), other than an

employee benefit plan sponsored by the Company or its affiliates, in

exchange for such policyholder's membership interest in the Company, in

accordance with the terms of a plan of reorganization (the

Demutualization; the Demutualization Plan) adopted by the Company and

implemented pursuant to the insurance laws of the State of Virginia.

This exemption is subject to the conditions set forth below in

Section II.

Section II. General Conditions

(a) The Demutalization Plan is implemented in accordance with

procedural and substantive safeguards that are imposed under Virginia

law and is subject to the review and supervision by the Virginia State

Corporation Commission (the Commission).

(b) The Commission reviews the terms of the options that are

provided to certain policyholders of the Company (the Eligible

Members), as part of such Commission's review of the Demutualization

Plan, and the Commission only approves the Demutualization Plan

following a determination that such Demutualization Plan is fair and

equitable to the policyholders.

(c) Each Eligible Member has an opportunity to comment on the

Demutualization Plan and each Member on the Record Date can decide

whether to vote to approve such Demutualization Plan after full written

disclosure is given such Member by the Company, of the terms of the

Demutualization Plan.

(d) Any election by an Eligible Member to receive cash and/or

Trigon Stock pursuant to the terms of the Demutualization Plan is made

by one or more independent fiduciaries of such Plan and neither the

Company nor any of its affiliates exercises any discretion or provides

investment advice with respect to such election.

(e) After an Eligible Member entitled to receive stock is allocated

a fixed number of shares of Trigon Stock for each vote, additional

consideration is allocated to an Eligible Member who owns a

participating policy based on actuarial formulas that take into account

each participating policy's contribution to the surplus (the Surplus or

the Surplus Contribution) of the Company which formulas have been

approved by the Commission.

(f) All Eligible Members participate in the transactions on the

same basis within their class groupings as other Eligible Members that

are not Plans.

(g) No Eligible Member pays any brokerage commissions or fees in

connection with their receipt of Trigon Stock or in connection with the

implementation of the commission-free sales program.

(h) All of the Company's policyholder obligations remain in force

and are not affected by the Demutualization Plan.

Section III. Definitions

For purposes of this exemption:

(a) The term ``Company'' means Blue Cross and Blue Shield of

Virginia and any affiliate of the Company as defined in paragraph (b)

of this Section III.

(b) An ``affiliate'' of the Company includes--

(1) Any person directly or indirectly through one or more

intermediaries, controlling, controlled by, or under common control

with the Company. (For purposes of this paragraph, the term ``control''

means the power to exercise a controlling influence over the management

or policies of a person other than an individual.)

[[Page 64764]]

(2) Any officer, director or partner in such person, and

(3) Any corporation or partnership of which such person is an

officer, director or a 5 percent partner or owner.

(c) The term ``Effective Date'' means the date on which the

certificate of merger is issued by the Commission and the

Demutualization occurs.

(d) The term ``Eligible Member'' means a member which will receive

a distribution of Trigon Stock in the Demutualization. A ``Member'' is

a policyholder which has a policy of insurance directly from the

Company, which policy entitles the policyholder to vote. To be eligible

for a distribution of Trigon Stock, the Member must have had a policy

in effect as of December 31, 1995.

(e) The term ``Record Date'' is the date on which the determination

of a policyholder's status for voting on the Demutualization is made.

For a more complete statement of the facts and representations

supporting the Department's decision to grant this exemption, refer to

the notice of proposed exemption (the Notice) on May 23, 1996 at 61 FR

25900.

Written Comments

The Department received five written comments with respect to the

Notice. Four comments, which objected to different aspects of the

Demutualization, were submitted by policyholders of the Company. Of

these policyholder comments, two were submitted by the same individual.

The fifth comment was submitted by the Company and is intended to

clarify and update the Notice. Following is a discussion of the

comments received.

Policyholder Comments

Of the policyholder comments received, one commenter has objected

to the Demutualization but does not cite the specific reasons for his

opposition. The second commenter is of the view that the

Demutualization will diminish benefits and increase premium costs for

policyholders. This commenter is also opposed to the exemption because

he believes it will facilitate the Demutualization.

In response to the second commenter, the Company notes that as a

policyholder, the holder of the group policy that covers the commenter

would have the opportunity to vote on the approval or disapproval of

the Demutualization Plan with all other policyholders. The Company also

states that the commenter's specific concerns about benefits and

premium costs would be addressed in the Demutualization process which

requires that the terms and conditions of the plan be fair and

equitable to the policyholders of the issuer. The Company further notes

that the Demutualization would not affect the premiums or other terms

of insurance.

The third commenter, who submitted two comments, is an individual

policyholder of the Company. The commenter proposes that the exemption

permit the Company to allocate cash or shares of Trigon Stock directly

to employees covered under group policies of insurance. In response,

the Company notes that under Title I of the Act, the Plan administrator

is given the primary duty to make decisions regarding the operation of

the Plan including the use and disposition of Plan assets. According to

the Company, distribution of cash or Trigon Stock directly to employees

in the Demutualization is inconsistent with its responsibilities since

the Company is not the Plan administrator of any Plans associated with

its group policies. Therefore, the Company asserts that it cannot

dictate to the Plan administrator the manner in which cash or shares of

Trigon Stock should be used under the Plan. Rather, the Plan

administrator must make this decision based on the individual facts

concerning the Plan.

The Company is also of the view that the commenter's proposal would

be untenable because of the various situations that might affect the

Plan. In this regard, the Company explains that under the

Demutualization Plan, the Surplus is allocated to each policyholder for

each year from 1988 through 1995. During that time period, group

policyholders may have had substantial changes (e.g., constant

participant turnover, changes in allocation costs between the employer

and the participants, changes in elections of health care providers by

employers, etc.) in their Plans which could affect the manner in which

the Plans would treat their participants. The only party who would

possess this information and have the authority to determine the

appropriate treatment of the employees would be the Plan administrator,

who is permitted under the Demutualization Plan to decide how shares of

Trigon Stock will be used to benefit employees. Therefore, the Company

does not believe it is feasible to make these decisions for the

thousands of groups that will receive Trigon Stock.

In addition, the commenter states that the Company's allocation

formula should consider allocating shares to the Surplus Contribution

made by self-funded Plans which are not insured Plans. In response, the

Company represents that the allocation formula in the Demutualization

Plan does not take into account contributions to Surplus from its non-

insurance lines of business as such action would be inconsistent with

the purpose of the allocation formula. The Company explains that the

purpose of the allocation formula is to allocate, in a fair and

equitable manner, shares of Trigon Stock among the Company's

policyholders. Therefore, the Company states that the formula should

only take into account the Surplus Contributions for the policyholders

who will receive the shares. Moreover, the Company states that the

customers of its non-insurance lines of business are not policyholders

and revenue from these customers should play no part in the allocation

formula.

Further, the commenter is of the view that there may be litigation

if allocations are not made by the Company to individual employees

covered under group policies. However, the Company notes that

litigation on this issue has never occurred in prior Demutualizations.

Finally, the commenter has remarked on a provision of the Notice

relating to the Company's in-house health Plans. In response, the

Company states that this portion of the Notice has been withdrawn. With

respect to its in-house health Plans, the Company indicates that it has

determined that such Plans are not ``policies of insurance'' for

purposes of eligibility under the Demutualization Plan. Therefore, no

Trigon Stock will be distributed to the Company or its employees under

the Demutualization Plan.

It should be noted that this commenter made comments to the

Commission that are similar to the foregoing but he did not appear at

the hearing on the Demutualization Plan which occurred on September 9-

11, 1996. It is represented that the commenter withdrew as a protestant

during the hearing and that the Commission did not require the Company

to amend the Demutualization Plan in response to the commenter's

remarks.

The Company's Comment

In its comment, the Company has noted various changes in the

details of the Demutualization Plan. Although the basic structure of

the Demutualization has remained the same, the Company indicates that a

revised Demutualization Plan incorporating these changes was filed with

the Commission on May 31, 1996. On October 28, 1996, the Commission

issued a preliminary order and requested that a revised

[[Page 64765]]

Demutualization Plan be filed that incorporated its recommended

modifications. On October 31, 1996, the Company filed a revised

Demutualization Plan which contained two amendments that do not affect

matters that were included in the Notice or in the subsequent revisions

to the description of the Demutualization Plan as described below.

Specifically, the time periods for certain restrictions on stock

acquisitions that might affect control of the Company have been reduced

from 5 years to 30 months. In addition, limitations have been placed on

stock-based compensation awards until three months after the end of the

Lockup Period. On November 5, 1996, the Commission issued its final

order approving the Demutualization of the Company.

In order to clarify and update the Notice, the Company has

requested that the Department make revisions in the following areas:

(1) Number of Shares of Trigon Stock to be Allocated for Voting

Rights. Section II(e), Representations 8 and 15(e) of the Notice state

that an Eligible Member entitled to receive Trigon Stock will be

allocated at least 16 shares for each vote. However, the Company points

out that under the revised Demutualization Plan, the current estimate

for the number of shares to be allocated for each vote is 13.7 shares

rather than 16 shares. The Company further explains that the exact

number of shares for each vote may be subject to change depending on

the number of votes which is presently estimated at 700,730.

(2) Eligible Member Effective Date. Section III(d) of the Notice

states, in part, that to be eligible to receive a distribution of

Trigon Stock, a member must have had a policy in effect on (a) May 31,

1995, (b) on the Effective Date, and (c) at all times between those

dates. To reflect the revised Demutualization Plan, the Company states

that in order to be eligible for a distribution, an eligible policy

must have been in effect on December 31, 1995 (rather than May 31,

1995) and does not have to remain in effect after that date.

(3) Special Member Hearing and Hearing. In Representation 4 of the

Notice, the dates for the special Member hearing and the hearing had

not been established. The Company represents that the special Member

hearing was held on September 6, 1996, at which time eligible

policyholders of the Company approved the Demutualization Plan by

approximately 92.5 percent of the votes cast in favor of the

conversion. On September 9-11, 1996, the Company states that the

Commission held hearings on the Demutualization Plan.

(4) Allocation of Trigon Stock. Representation 8 of the Notice

states that the allocation of Trigon Stock will be based on two

components--voting rights (Voting Rights) and the equity contribution

(the Equity Contribution) by the policies. The Company wishes to

clarify that the Voting Rights Allocation is referred to as the ``Fixed

Component'' or the ``Aggregate Fixed Component'' and the Equity

Contribution Allocation is referred to as the ``Surplus Contribution,''

the ``Variable Component'' or the ``Aggregate Variable Component.''

In addition, Representation 8 of the Notice states, in part, that

the Demutualization Plan assigns each policy to a strategic business

unit (SBU) and a major product line (MPL) under the SBU. It is also

represented that the Demutualization Plan divides the Eligible Members

into 4 SBUs and 11 MPLs that could receive an allocation of Trigon

Stock. Under the amended Demutualization Plan, the Company notes that

all policies will be allocated to one of fourteen MPLs and that the

MPLs will not be further divided among any SBUs.

(5) Changes to Hypothetical Example. Representation 9 of the Notice

sets forth a hypothetical example, provided by the Company, which

describes the manner in which shares of Trigon Stock would be

calculated for an Eligible Member. To update the Notice, the Company

requests that references to the Equity Contribution Allocation be

changed to the ``Aggregate Variable Component Allocation'' or the

``Variable Component Allocation'' and the Equity Contribution Factor be

changed to the ``Surplus Contribution Factor.'' The Company also notes

that the Surplus Contribution Factor (the SCF) will be applied for the

years 1988 through 1995 and future years through 2015 rather than pre-

1989 as stated in the Notice.

To reflect these changes, the example has been revised as follows:

Assume that an Eligible Member's group policy was in force from

1985 until 1995. Thus, the first step in the allocation methodology

is to compute the Voting Rights allocation. The second step in the

allocation methodology is to determine the Surplus Contribution

allocation.

Fixed Component Allocation. Assume that the policy has a total

of 30 votes as of the Record Date. At a rate of 13.7 shares per

vote, the Fixed Component allocation would be 411 shares of Trigon

Stock.

30 votes x 13.7 shares of Trigon Stock = 411 shares of Trigon

Stock.

Variable Component Allocation. The following table represents

the number of covered lives and the Surplus Contribution Factor (the

SCF) 1 derived for the Eligible Member's MPL for each year.

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\1\ The SCF is determined by dividing the Surplus Contribution

of the MPL by the total number of covered lives. For example, assume

that in 1988, an MPL had a Surplus Contribution of $10 million and

50,000 covered lives. The 1988 SCF for that MPL would be $200 (i.e.,

$10 million divided by 50,000).

------------------------------------------------------------------------

Covered Surplus

Period lives x SCF contribution

------------------------------------------------------------------------

Pre-1988............................. 22 x $60 $1,320

1989................................. 22 x 60 1,320

1990................................. 30 x 60 1,800

1991................................. 28 x 40 1,120

1992................................. 35 x 70 2,450

1993................................. 35 x 60 2,100

1994................................. 40 x 80 3,200

1995................................. 40 x 60 2,400

Future............................... 40 x 70 2,800

-------------

Total surplus contribution....... $18,510

------------------------------------------------------------------------

Assume that the Surplus Contribution for all Eligible Members is

$18,510/$650,000,000 x 54,400,000 shares = 1,545 Surplus

Contribution Shares.

The total number of shares of Trigon Stock that will be received

by the Eligible Member is the sum of the Voting Rights Shares and

the Surplus Contribution Shares.

411 + 1,545 = 1,956 Total Shares Received.

(6) Criteria for Being Considered a Mandatory Cash Member. Footnote

7 of the Notice states, in pertinent part, that a Mandatory Cash Member

is--

.....(c) an Eligible Member with a mailing address within a

state in which there are fewer than 10 Eligible Members and the

total stock allocated to such Eligible Members is less than 2,000

shares, if the Company determines that issuance of shares to these

Eligible Members would result in unreasonable delay or excessive

hardship or delay.

Under the revised Demutualization Plan, the Company explains that

there are two different criteria for these Members. The first category

is having a mailing address in a state with 30 or fewer Eligible

Members. The second category is having a mailing address in a state in

which issuance of shares would result in unreasonable delay or be

excessively burdensome. Therefore, the Company requests that the

Department revise the affected portions of this footnote to read as

follows:

.....(c) an Eligible Member with a mailing address within a

state in which there are fewer than 30 Eligible Members and (d) an

Eligible Member with a mailing address in a state in which it is

determined that the issuance of shares to these Eligible Members

would result in unreasonable delay, be excessively burdensome or

expensive.

[[Page 64766]]

(7) Reduction in Lockup Periods. Representation 13 of the Notice

states that all shares of Trigon Stock that are issued by the Company

to Eligible Members will be subject to two Lockup Periods. The Company

wishes to clarify that under the revised Demutualization Plan, the

number of Lockup Periods has been reduced from two to one. The Company

states that the single Lockup Period will have a duration of six

months, after which time, all shares of Trigon Stock held by the

Company, will be released. Otherwise, the Company explains that the

Lockup will operate as under the prior Demutualization Plan. Therefore,

the Company suggests that all references to the second Lockup Period be

deleted.

Thus, after giving full consideration to the entire record,

including the written comments, the Department has made the

aforementioned changes and has decided to grant the exemption subject

to the modifications or clarifications described above. The comment

letters have been included as part of the public record of the

exemption application. The complete application file, as well as all

supplemental submissions received by the Department, is made available

for public inspection in the Public Documents Room of the Pension and

Welfare Benefits Administration, Room N-5638, U.S. Department of Labor,

200 Constitution Avenue, N.W., Washington, D.C. 20210.

FOR FURTHER INFORMATION CONTACT: Ms. Jan D. Broady of the Department,

telephone (202) 219-8881. (This is not a toll-free number.)

First National Bank of Anchorage Common Trust Fund (the Fund)

Located in Anchorage, Alaska; Exemption

[Prohibited Transaction Exemption 96-88; Exemption Application No. D-

10117]

The restrictions of sections 406(a), 406(b)(1) and (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) through (E) of the Code,

shall not apply to the sales of certain defaulted real estate mortgages

(the Mortgages) by the First National Bank of Anchorage Common Trust

Fund (the Fund) to the First National Bank of Anchorage (the Bank), a

party in interest with respect to the Fund, provided that the following

conditions are satisfied:

(1) The sales will be one-time cash transactions;

(2) the Fund will incur no costs in connection with the sales;

(3) the Fund will sell each Mortgage for the greater of fair market

value, or its outstanding principal balance plus accrued, but unpaid

interest, and penalty charges at the time of the sale;

(4) the independent fiduciaries (the Independent Fiduciaries)

appointed to act on behalf of the Fund in these transactions will

review and determine that a Mortgage is in default, has been properly

declared to be in default by the Bank in accordance with the

Comptroller of Currency regulations, and that the prospective sale of a

Mortgage is in the best interest of the Fund;

(5) neither of the Independent Fiduciaries will derive more than 5%

of his gross annual income from the Bank for each fiscal year that he

serves in an independent fiduciary capacity with respect to the

transactions described herein;

(6) the Mortgages will be purchased, rather than segregated, by the

Bank;

(7) the borrowers on the Mortgages will be unrelated third parties;

(8) the conditions of the Prohibited Transaction Exemption 90-60

(PTE 90-60) have been met. PTE 90-60, which expired September 12, 1995,

provided retroactive and prospective relief for sales of the Mortgages

by the Fund to the Bank;

(9) the Bank maintains for a period of six years, the records

necessary to enable persons described in (10) below to determine

whether the conditions of this exemption have been met, except that a

prohibited transaction will not be considered to have occurred if, due

to the circumstances beyond the control of the Bank or its affiliates,

the records are lost or destroyed prior to the end of the six-year

period; and

(10) (i) Except as provided in paragraph (ii) of this subsection

(10) and notwithstanding any provisions of subsections (a)(2) and (b)

of section 504 of the Act, the records referred to in subsection (9)

above are unconditionally available at their customary location for

examination during normal business hours by--

(A) Any duly authorized employee or representative of the

Department or the Internal Revenue Service,

(B) Any fiduciary of a plan participating in the Fund, who has

authority to acquire or dispose of the interests of the plan, or any

duly authorized employee or representative of such fiduciary,

(C) Any contributing employer to any plan participating in the

Fund, or any duly authorized employee or representative of such

employer, and

(D) Any participant or beneficiary of any plan participating in the

Fund, or any duly authorized employee or representative of such

participant or beneficiary.

(ii) None of the persons described in subparagraphs (B) through (D)

of this subsection (10) shall be authorized to examine trade secrets of

the Bank, any of its affiliates, or commercial or financial information

which is privileged or confidential.

For a more complete statement of the facts and representations

supporting the Department's decision to grant this exemption refer to

the notice of proposed exemption published on September 18, 1996 at 61

FR 49160/49162.

FOR FURTHER INFORMATION CONTACT: Ekaterina A. Uzlyan, U.S. Department

of Labor, telephone (202) 219-8883. (This is not a toll-free number.)

John A. Colglazier Self Employment Retirement Plan (the Plan)

Located in San Antonio, TX; Exemption and Replacement of Existing

Exemption

[Prohibited Transaction Exemption (PTE) 96-89; Exemption Application

No. D-10291]

The Department hereby grants a temporary new exemption that will

replace PTE 86-95 (51 FR 26077, July 18, 1986). Under the new

exemption, the sanctions resulting from the application of section 4975

of the Code, by reason of section 4975(c)(1) (A) through (E) of the

Code, will not apply to the cash sale by the Plan, for $74,250, of a

parcel of unimproved real property (the Property) to John A.

Colglazier, a sole proprietor and a disqualified person with respect to

the Plan.\2\

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\2\ Because Mr. Colglazier is a sole proprietor and the only

participant in the Plan, there is no jurisdiction under Title I of

the Employee Retirement Income Security Act of 1974 (the Act).

However, there is jurisdiction under Title II of the Act pursuant to

section 4975 of the Code.

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This exemption is subject to the following conditions:

(a) The sale is a one-time transaction for cash that is entered

into within 90 days following the publication, in the Federal Register,

of the notice granting the proposed exemption.

(b) The Plan does not pay any real estate fees or commissions in

connection with the sale.

(c) The Property is appraised by a qualified, independent

appraiser.

(d) The Plan receives, as consideration, an amount that is equal to

the greater of $74,250 or the fair market value of the Property as of

the date of the sale, including any special value attributed to the

Property by reason of its proximity to other real property owned by Mr.

Colglazier.

(e) All terms and conditions of the sale remain at least as

favorable to the Plan as those obtainable in an arm's length

transaction with an unrelated party at the time of the sale.

[[Page 64767]]

TEMPORARY NATURE OF EXEMPTION/EFFECTIVE DATE: This exemption will be

effective for a period of 90 days subsequent to the date the grant

notice is published in the Federal Register.

For a more complete statement of the facts and representations

supporting the Department's decision to grant this exemption, refer to

the notice of proposed exemption published on October 17, 1996 at 61 FR

54227.

FOR FURTHER INFORMATION CONTACT: Ms. Jan D. Broady of the Department,

telephone (202) 219-8881. (This is not a toll-free number.)

General Information

The attention of interested persons is directed to the following:

(1) The fact that a transaction is the subject of an exemption

under section 408(a) of the Act and/or section 4975(c)(2) of the Code

does not relieve a fiduciary or other party in interest or disqualified

person from certain other provisions to which the exemptions does not

apply and the general fiduciary responsibility provisions of section

404 of the Act, which among other things require a fiduciary to

discharge his duties respecting the plan solely in the interest of the

participants and beneficiaries of the plan and in a prudent fashion in

accordance with section 404(a)(1)(B) of the Act; nor does it affect the

requirement of section 401(a) of the Code that the plan must operate

for the exclusive benefit of the employees of the employer maintaining

the plan and their beneficiaries;

(2) These exemptions are supplemental to and not in derogation of,

any other provisions of the Act and/or the Code, including statutory or

administrative exemptions and transactional rules. Furthermore, the

fact that a transaction is subject to an administrative or statutory

exemption is not dispositive of whether the transaction is in fact a

prohibited transaction; and

(3) The availability of these exemptions is subject to the express

condition that the material facts and representations contained in each

application accurately describes all material terms of the transaction

which is the subject of the exemption.

Signed at Washington, D.C., this 3rd day of December, 1996.

Ivan Strasfeld,

Director of Exemption Determinations, Pension and Welfare Benefits

Administration, U.S. Department of Labor.

[FR Doc. 96-31108 Filed 12-5-96; 8:45 am]

BILLING CODE 4510-29-P