Federal Register / Vol. 80, No. 70 / Monday, April 13, 2015 / Notices 19687 

1The Department has considered exemption 

applications received prior to December 27, 2011 

under the exemption procedures set forth in 29 CFR 

part 2570, subpart B (55 FR 32836, 32847, August 

10, 1990). 

www.usdoj.gov/enrd/Consent_

Decrees.html. We will provide a paper 

copy of the Joint Stipulation of 

Settlement upon written request and 

payment of reproduction costs. Please 

mail your request and payment to: 

Consent Decree Library, U.S. DOJ– 

ENRD, P.O. Box 7611, Washington, DC 

20044–7611. 

Please enclose a check or money order 

for $2.75 (25 cents per page 

reproduction costs for 11 pages) payable 

to the United States Treasury. 

Henry S. Friedman, 

Assistant Chief, Environmental Enforcement 

Section, Environment and Natural Resources 

Division. 

[FR Doc. 2015–08391 Filed 4–10–15; 8:45 am] 

BILLING CODE 4410–15–P 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

Exemptions From Certain Prohibited 

Transaction Restrictions 

AGENCY: Employee Benefits Security 

Administration, Labor. 

ACTION: Grant of Individual Exemptions. 

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 (ERISA or the Act) 

and/or the Internal Revenue Code of 

1986 (the Code). This notice includes 

the following: 2015–01, The United 

Association of Journeymen and 

Apprentices of the Plumbers and 

Pipefitters Local Union No. 189 Pension 

Plan, D–11750; 2015–02, The Camco 

Financial & Subsidiaries Salary Savings 

Plan and Huntington Bancshares, Inc., 

D–11751; 2015–03, Teamsters Local 

Union No. 727 Pension Fund, D–11770; 

2015–04, Craftsman Independent Union 

Local #1 Health, Welfare & 

Hospitalization Trust Fund, L–11775; 

and 2015–05, Local 268, Sheet Metal 

Workers International Association, 

AFL–CIO, L–11794. 

SUPPLEMENTARY INFORMATION: A notice 

was published in the Federal Register of 

the pendency before the Department of 

a proposal to grant such exemption. The 

notice set forth a summary of facts and 

representations contained in the 

application for exemption and referred 

interested persons to the application for 

a complete statement of the facts and 

representations. The application has 

been available for public inspection at 

the Department in Washington, DC. The 

notice also invited interested persons to 

submit comments on the requested 

exemption to the Department. In 

addition the notice stated that any 

interested person might submit a 

written request that a public hearing be 

held (where appropriate). The applicant 

has represented that it has complied 

with the requirements of the notification 

to interested persons. No requests for a 

hearing were received by the 

Department. Public comments were 

received by the Department as described 

in the granted exemption. 

The notice of proposed exemption 

was issued and the exemption is being 

granted solely by the Department 

because, effective December 31, 1978, 

section 102 of Reorganization Plan No. 

4 of 1978, 5 U.S.C. App. 1 (1996), 

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 (76 FR 66637, 

66644, October 27, 2011) 1 and based 

upon the entire record, the Department 

makes the following findings: 

(a) The exemption is administratively 

feasible; 

(b) The exemption is in the interests 

of the plan and its participants and 

beneficiaries; and 

(c) The exemption is protective of the 

rights of the participants and 

beneficiaries of the plan. 

The United Association of Journeymen 

and Apprentices of The Plumbers and 

Pipefitters Local Union No. 189 Pension 

Plan, as Amended (the Plan or the 

Applicant) Located in Columbus, Ohio 

[Prohibited Transaction Exemption 

2015–01; Exemption Application No. D– 

11750] 

Exemption 

The restrictions of section 

406(a)(1)(A) and (D) and section 

406(b)(1) and (b)(2) of the Act and the 

sanctions resulting from the application 

of section 4975(c)(1)(A), (D) and (E) of 

the Code, shall not apply to the sale 

(Sale) of certain improved real property 

(the Property) by the Plan to Local #189 

of the United Association of 

Journeymen and Apprentices of the 

Plumbing and Pipefitting Industry of the 

United States and Canada (the Union), 

a party in interest with respect to the 

Plan, provided that the following 

conditions are satisfied: 

(a) The Sale is a one-time transaction 

for cash; 

(b) As consideration, the Plan receives 

$3,100,000 or the fair market value of 

the Property as determined by a 

qualified, independent appraiser (the 

Appraiser) in a written appraisal of the 

Property, which is updated on the date 

of Sale; 

(c) The Plan pays no commissions, 

costs or fees with respect to the Sale; 

(d) The terms and conditions of the 

Sale are at least as favorable to the Plan 

as those obtainable in an arm’s length 

transaction with an unrelated party; 

(e) The Sale has been reviewed and 

approved by a qualified, independent 

fiduciary, who, among other things: has 

reviewed and approved the 

methodology used by the Appraiser and 

has ensured that the appraisal 

methodology was properly applied in 

determining the fair market value of the 

Property; and has determined that it is 

prudent to go forward with the Sale. 

Written Comments 

In the Notice of Proposed Exemption 

(the Notice), the Department invited all 

interested persons to submit written 

comments and requests for a hearing on 

the proposed exemption within 45 days 

of the publication, on November 26, 

2014, of the Notice in the Federal 

Register. All comments and requests for 

a hearing were due by January 10, 2015. 

During the comment period, the 

Department received one written 

comment with respect to the Notice that 

was submitted by a Plan participant (the 

Commenter), and no requests for a 

hearing. In addition, the Applicant 

informed the Department of an updated 

appraisal of the Property, which was 

later submitted to the Department and 

required the Department’s modification 

to the operative language of the Notice. 

Discussed below are the comment and 

the Department’s revision to the Notice. 

The Comment 

The Commenter asked the Department 

to deny the proposed exemption, stating 

that the proposed transaction is an 

attempt by the employers to put the 

financial burden of a pension plan ‘‘in 

the yellow’’ on the backs of Union 

members, instead of raising the Plan’s 

contribution rate. 

In response, the Applicant states that 

the comment is factually inaccurate. 

First, according to the Applicant, the 

Commenter incorrectly states that the 

Plan is ‘‘in the yellow.’’ To clarify the 

meaning of this actuarial phrase, the 

Applicant represents that plans are 

considered ‘‘in the green zone’’ when 

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2The Applicant represents that given the training 

with welding supplies and medical gases, the Plan 

had significant concern about whether a clean 

environmental report would be obtainable. 

3The Applicant represents that current zoning 

limitations significantly restrict the potential uses 

of the Property. 

4As mentioned in the preceding footnote, the 

Applicant represents that because of the use and 

storage of various chemicals on the Property, it was 

not clear whether the Plan could have given such 

an affidavit. 

5For purposes of this exemption, references to 

specific provisions of Title I of the Act, unless 

otherwise specified, refer also to the corresponding 

provisions of the Code. 

the funded percentage is 80% or higher; 

‘‘in the red zone’’ when the funded 

percentage is below 65%; and ‘‘in the 

yellow zone’’ when the funded 

percentage is between 65% and 80%. 

The Applicant represents that the Plan’s 

actuary has certified that the Plan has 

been ‘‘in the green zone’’ for each plan 

year since the plan year beginning April 

1, 2011. Further, the Applicant 

represents that the actual funded 

percentages, as certified by the actuary 

each year, have been as follows: 

Plan year beginning April 

1 

PPA Funded Percentage certified 

by actuary 

Zone 

2014 ............. 90.2% Green 

2013 ............. 85.0% Green 

2012 ............. 83.5% Green 

2011 ............. 80.4% Green 

2010 ............. 74.2% Yellow 

Second, the Applicant states that 

whether the Plan holds the illiquid asset 

(i.e., the Property) or the liquid 

investment (i.e., the cash proceeds that 

can be reinvested), the proposed 

transaction would not change the 

funded status of the Plan and, therefore, 

would not affect whether or not the per 

hour contribution rate would need to be 

increased. 

Third, and lastly, the Applicant states 

that the proposed exemption was not 

initiated by the employers, but at the 

request of the Union to allow it to 

purchase the Property. The Applicant 

explains that the Union desires to 

purchase the Property for the following 

reasons: (1) The Plumbers and 

Pipefitters Local #189 Joint 

Apprenticeship and Journeyman 

Training Committee, which leases space 

in the building (the Building) located on 

the Property, needs more teaching 

space, but the Plan is unwilling to 

expand the Building because it has 

determined that such an investment 

would be imprudent since the current 

fair market value of the Building is 

based on the redevelopment value of the 

land; (2) there is a significant cost 

associated with moving the teaching 

equipment that is currently installed in 

the Building to another location; and (3) 

the Union desires to retain use of the 

current facility even though the Plan has 

received two unsolicited offers to 

purchase the Property. 

With respect to the two unsolicited 

offers, the Applicant represents that it 

received an unsolicited offer of 

$2,700,000 (with required covenants, a 

commission payable, and significant 

contingencies) in January 2014 and an 

earlier unsolicited offer of $3,310,000 

(with required covenants, a commission 

payable, and significant contingencies) 

in January 2008 (the 2008 Offer). The 

Applicant represents that although the 

2008 Offer exceeds the cash price 

payable by the Union to the Plan (i.e., 

$3,100,000) by $210,000, the net 

proceeds the Plan will receive from the 

Union will be significantly higher than 

what the Plan would have received from 

the 2008 Offer because of the covenant 

risks, commissions, and contingencies 

attached to the 2008 Offer. According to 

the Applicant, the 2008 Offer was 

contingent on the purchaser’s receipt of: 

(1) satisfactory soil tests and 

environmental reports that the premises 

were free from environmental 

contamination; 2 (2) satisfactory 

engineering and economic feasibility 

reports regarding the ‘‘economic 

viability of the purchaser’s project;’’ (3) 

zoning approval; 3 (4) a survey of the 

Property by an engineer or surveyor 

acceptable to the purchaser at the Plan’s 

expense; and (5) an affidavit from the 

Plan that it had ‘‘no knowledge of the 

dumping, storing or past or present 

existence of any hazardous waste or 

products on the’’ Property.4 The 

Applicant represents that the Plan did 

not believe that it would be able to 

satisfy these contingencies. Further, the 

Applicant represents that even if the 

Plan could have satisfied the 

contingencies, it would have done so at 

a significant expense. 

Modification of the Notice 

On January 5, 2015, the Applicant 

informed the Department of an appraisal 

report dated December 16, 2014 (the 

December 2014 Appraisal), that had 

been prepared by Thomas J. Horner, 

MAI, SRA, ASA, the Appraiser. On 

December 2, 2014, the Appraiser placed 

the fair market value of the Property at 

$3,100,000. 

Because the fair market value of the 

Property as reported in the December 

2014 Appraisal represents an increase of 

$200,000 over the $2,900,000 fair 

market value reported by the Appraiser 

as of January 27, 2014 in an appraisal 

report dated January 31, 2014, the 

Department has modified condition (b) 

of the exemption by replacing the 

‘‘$2,900,000’’ value with ‘‘$3,100,000’’ 

to reflect the most recent valuation of 

the Property. 

Accordingly, after giving full 

consideration to the entire record, 

including the written comment and the 

Department’s modification of the 

Notice, the Department has decided to 

grant the exemption. The complete 

application file (D–11750), and all 

supplemental submissions received by 

the Department, are available for public 

inspection in the Public Disclosure 

Room of the Employee Benefits Security 

Administration, Room N–1515, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210. 

For a more complete statement of 

facts and representations supporting the 

Department’s decision to grant this 

exemption, refer to the Notice published 

in the Federal Register at 79 FR 70624 

(November 26, 2014). 

FOR FURTHER INFORMATION CONTACT: 

Ms. Anna Mpras Vaughan of the 

Department at (202) 693–8565. (This is 

not a toll-free number.) 

The Camco Financial & Subsidiaries 

Salary Savings Plan (the Plan) and 

Huntington Bancshares, Inc. 

(Huntington) Located in Cambridge, OH 

and Columbus, OH [Prohibited 

Transaction Exemption 2015–02; 

Application No. D–11751] 

Exemption 

Section I: Transactions 

The restrictions of sections 

406(a)(1)(A), 406(a)(1)(E), 406(a)(2), 

406(b)(1), 406(b)(2), and 407(a)(1)(A) of 

the Act and the sanctions resulting from 

the application of section 4975 of the 

Code, by reason of sections 

4975(c)(1)(A) and (E) of the Code,5 shall 

not apply to the acquisition and holding 

of certain warrants (the Warrants) by the 

individually-directed account(s) (the 

Account(s)) of certain participant(s) in 

the Plan in connection with an offering 

(the Offering) of shares of common stock 

(the Stock) of Camco Financial 

Corporation (Camco), the sponsor of the 

Plan and a party in interest with respect 

to the Plan. 

Section II: Conditions 

(a) The Accounts acquired the 

Warrants in connection with the 

exercise of subscription rights (the 

Rights) to purchase Stock by the Plan’s 

directed trustee (the Directed Trustee) 

on behalf of Plan participants; 

(b) Each stockholder, including each 

of the Accounts holding Stock on behalf 

of Plan participants, received the same 

proportionate number of Rights based 

on the number of shares of Stock held 

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as of July 29, 2012 (the Record Date), 

and the same proportionate number of 

Warrants based on the number of Rights 

exercised during the Offering; 

(c) The Plan participant whose 

Account received the Warrants made, or 

will make, all decisions with respect to 

the holding and exercise of such 

Warrants; 

(d) The Plan did not pay, nor will it 

pay, any brokerage fees, commissions, 

or other fees or expenses to any related 

broker in connection with the 

acquisition, holding, and exercise of the 

Rights or Warrants; 

(e) The acquisition of the Rights by 

the Accounts resulted from an 

independent corporate act of Camco; 

and 

(f) The Rights and Warrants were 

acquired pursuant to and in accordance 

with, provisions under the Plan for 

individually directed investments of the 

Accounts holding Stock on behalf of 

Plan participants. 

Effective Date: This exemption is 

effective from November 1, 2012, until 

the Warrants are exercised or expire. 

Written Comments 

The Department invited all interested 

persons to submit written comments 

and/or requests for a public hearing 

with respect to the notice of proposed 

exemption, published on November 26, 

2014, at 79 FR 70628. All comments and 

requests for hearing were due by 

January 10, 2015. During the comment 

period, the Department received no 

comments and no requests for a hearing 

from interested persons. Accordingly, 

after giving full consideration to the 

entire record, the Department has 

decided to grant the exemption. The 

complete application file (Application 

No. D–11751), including all 

supplemental submissions received by 

the Department, is available for public 

inspection in the Public Disclosure 

Room of the Employee Benefits Security 

Administration, Room N–1515, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210. 

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 

November 26, 2014, at 79 FR 70628. 

FOR FURTHER INFORMATION CONTACT: Ms. 

Jennifer Brown of the ((-Department, 

telephone (202) 693–83520. (This is not 

a toll-free number.) 

Teamsters Local Union No. 727 Pension 

Fund (the Fund) Located in Chicago, 

Illinois [Prohibited Transaction 

Exemption 2015–03; Application No. 

D–11770] 

Exemption 

Section I. Covered Transactions 

The restrictions of sections 

406(a)(1)(A) and (D) of the Employee 

Retirement Income Security Act of 1974, 

as amended (ERISA), and the sanctions 

resulting from the application of section 

4975 of the Internal Revenue Code of 

1986, as amended (the Code), by reason 

of section 4975(c)(1)(A) and (D) of the 

Code, shall not apply to: (1) The sale 

(the Sale) by the Fund of three separate 

25 percent interests in 1300 Higgins 

Road LLC (the LLC), a limited liability 

company of which the Fund is the sole 

member (each, an LLC Interest, and 

collectively, the LLC Interests), 

respectively, to each of Teamsters Local 

Union No. 700 (Local 700), Teamsters 

Local Union No. 727 (Local 727), and 

the Teamsters Joint Council No. 25 (the 

Joint Council, and together with Local 

700 and Local 727, the Unions); and (2) 

the subsequent Sale of the Fund’s 

remaining 25 percent LLC interest (the 

Fund’s LLC Interest) to the Unions due 

to the exercise by the Fund of a put right 

to sell the Fund’s LLC Interest to the 

Unions (the Put Right), provided that 

the conditions in Section II are satisfied. 

Section II. Conditions for Relief 

(a) The Fund receives from each of the 

Unions, as consideration for the Sale of 

the LLC Interests, a cash amount equal 

to 25 percent of the greater of: (1) The 

original purchase price paid by the 

Fund, or (2) the fair market value of the 

O’Hare Corporate Center in Park Ridge, 

Illinois (the Property), determined on 

the date of the Sale by an Independent 

Appraiser; 

(b) The Fund, upon exercise of the Put 

Right, receives from the Unions a onetime aggregate cash amount equal to 25 

percent of the greater of: (1) The original 

purchase price paid by the Fund, or (2) 

the fair market value of the Property on 

the date of exercise of the Put Right, as 

determined by an Independent 

Appraiser; 

(c) The Sale and the exercise of the 

Put Right are each one-time transactions 

for cash; 

(d) The Independent Fiduciary: (1) 

Analyzes and approves the terms of the 

Sale and Put Right; (2) ensures that the 

terms of the Sale and Put Right and the 

conditions of the exemption are met; (3) 

has sole responsibility for the exercise 

of the Put Right on behalf of the Fund; 

(4) has sole responsibility and authority 

for the management and operation of the 

LLC and the Property; and (5) selects the 

Independent Appraiser and verifies the 

methodology used by the Independent 

Appraiser in determining the fair market 

value of the Property for all purposes 

under this proposed exemption; 

(e) An Independent Appraiser, who is 

selected by the Independent Fiduciary, 

establishes the fair market value of the 

Property for purposes of the Sale and 

the Put Right, using a methodology 

approved by the Independent Fiduciary; 

(f) The Fund does not pay any 

commissions, costs or other expenses in 

connection with the Sale and Put Right, 

other than the legal fees of the Fund’s 

counsel, the services of the Independent 

Fiduciary and the services of the 

Independent Appraiser; 

(g) Since its acquisition of the 

Property, the Fund’s ownership interest 

in the Property has constituted five 

percent or less of the Fund’s assets, and 

immediately after the Sale the Fund’s 

ownership interest in the Property will 

be less than two percent of the Fund’s 

assets; 

(h) No member of the LLC shall, 

directly or indirectly, without the 

approval of the Independent Fiduciary: 

(1) Act for or on behalf of the LLC; (2) 

transact any business in the name of the 

LLC; or (3) sign documents for or 

otherwise bind the LLC; 

(i) No LLC Interests shall be 

transferable by the Unions prior to the 

exercise of the Put Right by the Fund, 

without the approval of the Independent 

Fiduciary; 

(j) Any trustee of the Fund must 

recuse himself or herself from any vote 

regarding the termination or removal of 

the Independent Fiduciary for the Fund 

if he or she is an officer (or a relative 

of an officer as defined in Section III) of 

any of the Unions; 

(k) The terms and conditions of the 

Sale and the Put Right are at least as 

favorable to the Fund as those 

obtainable in an arm’s-length 

transaction with an unrelated third 

party; and 

(l) The Sale or Put Right is not part 

of an arrangement, agreement, or 

understanding designed to benefit a 

party in interest with respect to the 

Fund. 

Section III. Definitions 

(a) The term ‘‘relative’’ is a relative as 

that term is defined in section 3(15) of 

ERISA, and also includes a brother, 

sister, and a spouse of a brother or 

sister; 

(b) The term ‘‘Independent Fiduciary’’ 

means Intercontinental Real Estate 

Corporation (Intercontinental) or 

another fiduciary of the Plan who (1) is 

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independent or unrelated to the Unions 

and their affiliates and has the 

appropriate training, experience, and 

facilities to act on behalf of the Plan 

regarding the covered transactions in 

accordance with the fiduciary duties 

and responsibilities prescribed by 

ERISA (including, if necessary, the 

responsibility to seek the counsel of 

knowledgeable advisors to assist in its 

compliance with ERISA), and (2) if 

relevant, succeeds Intercontinental in its 

capacity as Fiduciary to the Plans in 

connection with the transactions 

described herein. The Independent 

Fiduciary will not be deemed to be 

independent of and unrelated to the 

Unions and their affiliates if: (i) Such 

Independent Fiduciary directly or 

indirectly controls, is controlled by or is 

under common control, with the Unions 

and their affiliates; (ii) such 

Independent Fiduciary directly or 

indirectly receives any compensation or 

other consideration in connection with 

any transaction described in this 

proposed exemption other than for 

acting as independent fiduciary in 

connection with the transactions 

described herein, provided that the 

amount or payment of such 

compensation is not contingent upon, or 

in any way affected by, the Independent 

Fiduciary’s ultimate decision; and (iii) 

the annual gross revenue received by 

the Independent Fiduciary, during any 

year of its engagement, from the Unions 

and their affiliates, exceeds two percent 

(2%) of the Independent Fiduciary’s 

annual gross revenue from all sources 

(for federal income tax purposes) for its 

prior tax year; 

(c) The term ‘‘Independent Appraiser’’ 

means an individual or entity meeting 

the definition of a ‘‘Qualified 

Independent Appraiser’’ under 29 CFR 

2570.31(i) retained to determine, on 

behalf of the Plans, the fair market value 

of the Property as of the date of the Sale, 

and may be the Independent Fiduciary, 

provided it satisfies the definition of 

Independent Appraiser herein; 

(d) The term ‘‘affiliate’’ of a person 

includes: 

(1) Any person directly or indirectly 

through one or more intermediaries, 

controlling, controlled by, or under 

common control with, the person; 

(2) Any officer, director, employee, 

relative, or partner of the person; or 

(3) Any corporation or partnership of 

which such person is an officer; and 

(e) The term ‘‘control’’ means the 

power to exercise a controlling 

influence over the management or 

policies of a person other than an 

individual. 

Effective Date: This exemption is 

effective as of its date of publication in 

the Federal Register. 

Written Comments 

The Department invited all interested 

persons to submit written comments 

and/or requests for a public hearing 

with respect to the notice of proposed 

exemption (the Notice), published on 

December 30, 2014, at 79 FR 78482. All 

comments and requests for hearing were 

due by February 13, 2015. During the 

comment period, the Department 

received several phone inquiries that 

generally concerned matters outside the 

scope of the exemption. Furthermore, 

the Department received no written 

comments and no requests for a hearing 

from interested persons. However, the 

Department has made one technical 

correction to the Notice, as described 

below. 

The Department’s Technical Correction 

The Department notes that the Notice 

incorrectly identifies the Fund as 

‘‘Teamsters Union Local No. 727 

Pension Fund (the Fund).’’ However, 

this notice correctly identifies the Fund 

as ‘‘Teamsters Local Union No. 727 

Pension Fund (the Fund).’’ 

After giving full consideration to the 

entire record, the Department has 

decided to grant the exemption. The 

complete application file (Application 

No. D–11770), including all 

supplemental submissions received by 

the Department, is available for public 

inspection in the Public Disclosure 

Room of the Employee Benefits Security 

Administration, Room N–1515, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210. 

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 

December 30, 2014, at 79 FR 78482. 

For Further Information Contact: Mr. 

Scott Ness of the Department, telephone 

(202) 693–8561. (This is not a toll-free 

number.) 

Craftsman Independent Union Local #1 

Health, Welfare & Hospitalization Trust 

Fund (the Plan) Cape Girardeau, 

Missouri [Prohibited Transaction 

Exemption 2015–04; Exemption 

Application No. L–11775] 

Exemption 

The restrictions of section 

406(a)(1)(A) and (D) of the Act shall not 

apply to the sale by the Plan of a parcel 

of improved real property (the Property) 

to the Craftsman Independent Union 

Local #1 (the Union), a party in interest 

with respect to the Plan, provided that 

the following conditions are satisfied: 

(a) The sale is a one-time transaction 

for cash; 

(b) The sales price for the Property is 

the greater of either: (1) $250,000; or (2) 

the fair market value of the Property as 

established by qualified independent 

appraisers (the Appraisers) in an 

appraisal of the Property that is updated 

on the date of the sale; 

(c) RMI, as the qualified independent 

fiduciary, reviews and approves the 

methodology used by the Appraisers to 

ensure that such methodology is 

properly applied in determining the fair 

market value of the Property, and 

determines that it is prudent to go 

forward with the sale; 

(d) RMI represents the interests of the 

Plan at the time the sale is 

consummated; 

(e) The Plan pays no real estate fees 

or commissions in connection with the 

sale; 

(f) The Union reimburses the Plan for 

50% of the costs of the exemption 

application and pays all recording 

charges, attorney’s fees, title insurance 

premiums, and any transfer fees or 

taxes; and 

(g) The terms of the sale are no less 

favorable to the Plan than the terms the 

Plan would receive under similar 

circumstances in an arm’s length 

transaction with an unrelated party. 

Written Comments 

In the notice of proposed exemption 

(the Notice), the Department invited all 

interested persons to submit written 

comments within 40 days of the 

publication, on November 26, 2014, of 

the Notice in the Federal Register. All 

comments were due by January 5, 2015. 

During the comment period, the 

Department received no comments from 

interested persons. 

Accordingly, after giving full 

consideration to the entire record, the 

Department has decided to grant the 

exemption. The complete application 

file (Exemption Application No. L– 

11775) is available for public inspection 

in the Public Disclosure Room of the 

Employee Benefits Security 

Administration, Room N–1515, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210. 

For a more complete statement of the 

facts and representations supporting the 

Department’s decision to grant this 

exemption, refer to the Notice published 

in the Federal Register on November 26, 

2014 at 79 FR 70645. 

For Further Information Contact: Mrs. 

Blessed Chuksorji-Keefe of the 

Department at (202) 693–8567. (This is 

not a toll-free number.) 

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Local 268, Sheet Metal Workers 

International Association, AFL–CIO 

(the Union) Located in Caseyville, IL 

[Prohibited Transaction Exemption 

2015–05; Application No. L–11794] 

Exemption 

The restrictions of sections 

406(a)(1)(A), 406(a)(1)(D), 406(b)(1), and 

406(b)(2) of the Act, shall not apply to 

the sale by the Fund of certain improved 

real property located at 2727 N. 89th 

Street, Caseyville, IL 62232 (the 

Building), to the Union (the Sale), 

provided that the following conditions 

have been met: 

(a) The Sale is a one-time transaction 

for cash; 

(b) At the time of the Sale, the Fund 

receives the greater of either: (1) 

$110,226.48; or (2) the fair market value 

of the Building, as established by a 

qualified independent appraiser (the 

Appraiser), as described in condition 

(c), as of the date of Sale; 

(c) Before the date of Sale, an 

Appraiser who satisfies the 

Department’s definition of ‘‘qualified 

independent appraiser’’ will be retained 

by the Independent Fiduciary on behalf 

of the Fund without any involvement of 

the Union or any other party to the 

covered transactions or any planned 

future transactions, and will conduct a 

full, independent Appraisal (the 

Appraisal) of the Building for purposes 

of the Sale that complies in all respects 

with applicable appraisal standards; 

(d) A qualified independent fiduciary 

(the Independent Fiduciary), acting on 

behalf of the Fund, represents the 

Fund’s interests for all purposes with 

respect to the Sale, and: (1) Determines, 

among other things, that it is in the best 

interest of the Fund to proceed with the 

Sale; and (2) reviews and approves the 

purchase price and methodology used 

by the Appraiser in its Appraisal; 

(e) The Fund pays no fees, 

commissions or other expenses 

associated with the Sale; and 

(f) The terms and conditions of the 

Sale are at least as favorable to the Fund 

as those obtainable in an arm’s-length 

transaction with an unrelated third 

party. 

Written Comments 

The Department invited all interested 

persons to submit written comments 

and/or requests for a public hearing 

with respect to the notice of proposed 

exemption, published on December 30, 

2014, at 79 FR 78486. All comments and 

requests for hearing were due by 

February 13, 2015. During the comment 

period, the Department received no 

comments and no requests for a hearing 

from interested persons. Accordingly, 

after giving full consideration to the 

entire record, the Department has 

decided to grant the exemption. The 

complete application file (Application 

No. L–11794), including all 

supplemental submissions received by 

the Department, is available for public 

inspection in the Public Disclosure 

Room of the Employee Benefits Security 

Administration, Room N–1515, U.S. 

Department of Labor, 200 Constitution 

Avenue NW., Washington, DC 20210. 

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 

December 30, 2014, at 79 FR 78486. 

For Further Information Contact: Mr. 

Scott Ness of the Department, telephone 

(202) 693–8561. (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 exemption 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 the 

application accurately describes all 

material terms of the transaction which 

is the subject of the exemption. 

Signed at Washington, DC, this 7th day of 

April, 2015. 

Lyssa E. Hall, 

Director of Exemption Determinations, 

Employee Benefits Security Administration, 

U.S. Department of Labor. 

[FR Doc. 2015–08301 Filed 4–10–15; 8:45 am] 

BILLING CODE 4510–29–P 

DEPARTMENT OF LABOR 

Employment and Training 

Administration 

Notice of Determinations Regarding 

Eligibility To Apply for Worker 

Adjustment Assistance and Alternative 

Trade Adjustment Assistance 

In accordance with Section 223 of the 

Trade Act of 1974, as amended (19 

U.S.C. 2273) the Department of Labor 

herein presents summaries of 

determinations regarding eligibility to 

apply for trade adjustment assistance for 

workers (TA–W) number and alternative 

trade adjustment assistance (ATAA) by 

(TA–W) number issued during the 

period of March 16, 2015 through March 

20, 2015. 

In order for an affirmative 

determination to be made for workers of 

a primary firm and a certification issued 

regarding eligibility to apply for worker 

adjustment assistance, each of the group 

eligibility requirements of Section 

222(a) of the Act must be met. 

I. Section (a)(2)(A) all of the following 

must be satisfied: 

A. a significant number or proportion 

of the workers in such workers’ firm, or 

an appropriate subdivision of the firm, 

have become totally or partially 

separated, or are threatened to become 

totally or partially separated; 

B. the sales or production, or both, of 

such firm or subdivision have decreased 

absolutely; and 

C. increased imports of articles like or 

directly competitive with articles 

produced by such firm or subdivision 

have contributed importantly to such 

workers’ separation or threat of 

separation and to the decline in sales or 

production of such firm or subdivision; 

or 

II. Section (a)(2)(B) both of the 

following must be satisfied: 

A. a significant number or proportion 

of the workers in such workers’ firm, or 

an appropriate subdivision of the firm, 

have become totally or partially 

separated, or are threatened to become 

totally or partially separated; 

B. there has been a shift in production 

by such workers’ firm or subdivision to 

a foreign country of articles like or 

directly competitive with articles which 

mstockstill on DSK4VPTVN1PROD with NOTICES