Proposed Regulation Relating to Definition of Plan Assets; Participant Contributions

DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration

29 CFR Part 2510

Proposed Regulation Relating to Definition of Plan Assets;

Participant Contributions

AGENCY: Pension and Welfare Benefits Administration, Department of

Labor.

ACTION: Notice of rescheduling of date for public hearing.

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SUMMARY: This document reschedules the date for a public hearing on the

proposed rule under Title I of the Employee Retirement Income Security

Act of 1974, as amended, 29 U.S.C. 1001-1461 (the Act), relating to

revision of the definition of when certain monies which a participant

pays to, or has withheld by, an employer for contribution to an

employee benefit plan are ``plan assets'' for purposes of Title I of

the Act. The proposed rule was set forth in a notice of proposed

rulemaking published in the Federal Register at 60 FR 66036 (December

20, 1995).

DATES: The public hearing on this proposed rule is rescheduled to

Thursday, February 22, 1996, and, if necessary based on the volume of

requests by the public to testify, to Friday, February 23, 1996. The

hearing will begin at 10:00 a.m. on both days.

ADDRESSES: Written requests to present public testimony concerning the

proposed rule should be submitted by February 14, 1996 to: Pension and

Welfare Benefits Administration, Room N-5669, U.S. Department of Labor,

200 Constitution Ave., N.W., Washington, DC 20210. Attention: Proposed

Participant Contribution Regulation. All submissions will be open to

public inspection at the Public Documents Room, Pension and Welfare

Benefits Administration, U.S. Department of Labor, Room N-5638, 200

Constitution Ave., N.W., Washington, DC 20210. The rescheduled hearing

on the proposed regulation will be held in Room N-3437 A and B, 200

Constitution Ave., N.W., Washington, DC 20210.

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Participant Contribution Regulation. All submissions will be open to

public inspection at the Public Documents Room, Pension and Welfare

Benefits Administration, U.S. Department of Labor, Room N-5638, 200

Constitution Ave., N.W., Washington, DC 20210. The rescheduled hearing

on the proposed regulation will be held in Room N-3437 A and B, 200

Constitution Ave., N.W., Washington, DC 20210.

FOR FURTHER INFORMATION CONTACT:

Rudy Nuissl, Office of Regulations and Interpretations, Pension and

Welfare Benefits Administration, U.S. Department of Labor, Rm N-5669,

200 Constitution Ave., N.W., Washington, DC 20210 (telephone (202) 219-

7461) or William W. Taylor, Office of the Solicitor, Plan Benefits

Security Division, U.S. Department of Labor, Rm N-4611, 200

Constitution Ave., N.W., Washington, DC 20210 (telephone (202) 219-

9141). These are not toll-free numbers.

SUPPLEMENTARY INFORMATION: On December 20, 1995, the Department of

Labor (the Department) published a notice of proposed rulemaking in the

Federal Register (60 FR 66036) which would revise the definition of

when certain monies which a participant pays to, or has withheld by, an

employer for contribution to an employee benefit plan are ``plan

assets'' for purposes of Title I of the Act. In that notice the

Department scheduled a public hearing with respect to the proposal, to

be held on January 24 and January 25, 1996, and invited interested

persons to submit written requests to testify at the hearing.

The Department has received requests from some members of the

public for additional time for preparation of testimony on the proposed

rule, and the Department believes that it is appropriate to grant such

additional time. Accordingly, this notice reschedules the public

hearing on the proposed rule to Thursday, February 22, 1996 and, if

necessary, to Friday, February 23, 1996. Requests to present public

testimony should be submitted by February 14

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public for additional time for preparation of testimony on the proposed

rule, and the Department believes that it is appropriate to grant such

additional time. Accordingly, this notice reschedules the public

hearing on the proposed rule to Thursday, February 22, 1996 and, if

necessary, to Friday, February 23, 1996. Requests to present public

testimony should be submitted by February 14. Unless otherwise advised,

the Department will assume that persons who have already submitted

written requests to testify at the January 24-25 hearing will wish to

testify at the hearing rescheduled for February 22-23.

The December 20, 1995 Federal Register notice also stated that

written comments concerning the proposed regulation must be received by

February 5, 1996. The Department has determined that the February 5

deadline for submission of written comments will continue to apply,

notwithstanding the rescheduling of the public hearing.

Notice of Rescheduling of Date for Public Hearing

Notice is hereby given that the public hearing for the proposed

rule (published at 60 FR 66036, December 20, 1995) relating to revision

of the definition of

when certain monies which a participant pays to, or has withheld by, an

employer for contribution to an employee benefit plan are ``plan

assets'' for purposes of Title I of the Act is rescheduled to Thursday,

February 22, 1996 and, if necessary, to Friday, February 23, 1996.

Signed at Washington, DC, this 19th day of January 1996.

Olena Berg,

Assistant Secretary, Pension and Welfare Benefits Administration.

[FR Doc. 96-1136 Filed 1-23-96; 8:45 am]

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