8570 Federal Register / Vol. 74, No. 36 / Wednesday, February 25, 2009 / Notices 

for the proper performance of the 

functions of the agency, including 

whether the information will have 

practical utility; 

—Evaluate the accuracy of the agency’s 

estimate of the burden of the 

proposed collection of information, 

including the validity of the 

methodology and assumptions used; 

—Enhance the quality, utility, and 

clarity of the information to be 

collected; and 

—Minimize the burden of the collection 

of information on those who are to 

respond, including through the use of 

appropriate automated, electronic, 

mechanical, or other technological 

collection techniques or other forms 

of information technology, e.g., 

permitting electronic submission of 

responses. 

Overview of This Information 

(1) Type of Information Collection: 

Extension of a currently approved 

collection. 

(2) The Title of the Form/Collection: 

Grants Management System Online 

Application. 

(3) The Agency Form Number, if any, 

and the Applicable Component of the 

Department Sponsoring the Collection: 

There is no form number, Office of 

Justice Programs, United States 

Department of Justice. 

(4) Affected Public Who Will be Asked 

or Required to Respond, as well as a 

Brief Abstract: The primary respondents 

are State, Local or Tribal Governments 

applying for grants. GMS is used to 

implement the statutory requirements of 

the Grant Management System (GMS) 

Online Application; Grant Adjustment 

Notice (GAN); Progress and Financial 

Reports of applications, awards, and 

closeouts. 

(5) An Estimate of the Total Number 

of Respondents and the Amount of Time 

Estimated for an Average Respondent to 

Respond: An estimated 34,097 grantees 

will respond to Grants Management 

System Online Application and on 

average it will take each of them 12 

hours to complete the 4 applications. 

(6) An Estimate of the Total Public 

Burden (in hours) Associated with the 

collection: The estimated public burden 

associated with this application is 

137,238 hours. 

If additional information is required 

contact: Ms. Lynn Bryant, Department 

Clearance Officer, United States 

Department of Justice, Justice 

Management Division, Policy and 

Planning Staff, Patrick Henry Building, 

Suite 1600, 601 D Street, NW., 

Washington, DC 20530. 

Dated: February 19, 2009. 

Lynn Bryant, 

Department Clearance Officer, PRA, United 

States Department of Justice. 

[FR Doc. E9–3988 Filed 2–24–09; 8:45 am] 

BILLING CODE 4410–18–P 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

Prohibited Transaction Exemptions 

and Grant of Individual Exemptions 

involving: D–11428, Heico Holding Inc. 

Pension Plan (the Plan), 2009–04; D– 

11450, Brewster Dairy, Inc. 401(k) 

Profit Sharing Plan (the Plan) 

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). 

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 (55 FR 32836, 

32847, August 10, 1990) 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. 

Heico Holding Inc. Pension Plan (the 

Plan), Located in Downers Grove, IL 

[Prohibited Transaction Exemption 2009–04; 

Exemption Application Number: D–11428] 

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 of the Code, by reason 

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

the Code, shall not apply to the sale by 

the Plan of a non-marketable limited 

partnership interest (the Interest) in 

Trident Equity Fund, II, L.P. (the 

Partnership) to Heico Holding Inc. (the 

Applicant), 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 Plan pays no commissions, 

fees or other expenses in connection 

with the sale; 

(c) The terms and conditions of the 

sale are at least as favorable as those 

obtainable in an arm’s length 

transaction with an unrelated third 

party; 

(d) As a result of the sale, the Plan 

receives the greater of: (i) $1,050,000; 

(ii) The value of the Interest as 

determined by the General Partner of 

the Partnership and reported on the 

most recent quarterly account 

statements of the Partnership available 

at the time of the sale; (iii) The fair 

market value of the Interest as 

determined on the date of the sale by a 

qualified, independent appraiser; or (iv) 

The total amount of the Plan’s 

contributions to the Partnership made 

on or after January 21, 2005 (i.e., the 

Plan’s investment cost basis in the 

Interest); and 

(e) Upon Plan termination, it is 

determined that the Plan is overfunded. 

For a complete statement of the facts 

and representations supporting the 

Department’s decision to grant this 

exemption, refer to the Notice of 


pwalker on PROD1PC71 with NOTICES
Federal Register / Vol. 74, No. 36 / Wednesday, February 25, 2009 / Notices 8571 

Proposed Exemption published on 

November 20, 2008 at 73 FR 70372. 

For Further Information Contact: Mr. 

Mark Judge of the Department, 

telephone (202) 693–8339. (This is not 

a toll-free number.) 

Brewster Dairy, Inc. 401(k) Profit 

Sharing Plan (the Plan), Located in 

Brewster, OH 

[Prohibited Transaction Exemption 2009–05; 

Exemption Application No. D–11450] 

Exemption 

The restrictions of sections 

406(a)(1)(A) and (D), 406(b)(1) and (b)(2) 

of the Act, and the sanctions resulting 

from the application of section 4975(a) 

and (b) of the Code, by reason of section 

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

shall not apply to the November 18, 

2008 sale (the Sale) by the Plan of 2.5 

limited partnership units (the Units) in 

the Heartland California Clayton 

Limited Partnership (the Partnership) to 

Brewster Dairy, Inc. (Brewster), the 

Plan’s sponsor and a party in interest 

with respect to the Plan, for the greater 

of: (1) $57,000; (2) the net proceeds for 

the Units in the event the Partnership 

sells its real estate (the Property) to a 

third party; or (3) the net proceeds from 

foreclosure for the Units in the event the 

Property is foreclosed to pay back real 

estate taxes, provided the following 

conditions are satisfied: 

(a) The Sale of the Units was a onetime transaction for cash; 

(b) The Plan paid no commissions, 

fees or other expenses in connection 

with the Sale; 

(c) The terms of the transaction were 

at least as favorable to the Plan as those 

the Plan could obtain in a similar 

transaction with an unrelated party; 

(d) The fair market value of the Units 

on the date of the Sale was determined 

by a qualified independent appraiser; 

(e) The Plan fiduciaries determined 

whether it was in the best interest of the 

Plan to go forward with the Sale, 

reviewed and approved the 

methodology used in the appraisal that 

was relied upon, and ensured that the 

methodology was applied by a qualified, 

independent appraiser in determining 

the fair market value of the Units as of 

the date of the Sale; and 

(f) The proceeds from the Sale of the 

Units to Brewster will be allocated only 

to the participants who are defined in 

the Consent Order and Judgment (File 

No. 5:98CV744, July 1, 1999) entered by 

the United States District Court for the 

Northern District of Ohio Eastern 

Division (the Court). 

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) 

published on November 20, 2008 at 73 

FR 70375. 

Effective Date: This exemption is 

effective November 18, 2008. 

Written Comments and Hearing 

Requests: The Department received one 

written comment and no hearing 

requests with respect to the Notice. The 

one comment letter was submitted by 

Brewster. In its letter, Brewster 

informed the Department that the 

subject Sale of the 2.5 Units was 

consummated on November 18, 2008, 

and Brewster requested that the 

exemption be made retroactive to that 

date. The Sale price was $57,000. 

Brewster represented that the 

transaction had to be completed prior to 

the granting of the exemption by the 

Department to facilitate the sale of the 

Property by the Partnership’s General 

Partners prior to the county filing a 

foreclosure action for real estate taxes 

unpaid by the Partnership. Brewster 

further represented that it will follow 

the terms of the Notice in all matters 

including allocation and adjustment of 

the purchase price if the Units 

previously owned by the Plan are sold 

by Brewster for more than $57,000 (or 

bring more than $57,000 in proceeds 

from foreclosure). 

The Department has considered, the 

entire record, including the comment 

letter submitted by Brewster and has 

determined that the subject transaction 

satisfied the criteria of section 408(a) of 

the Act on the date of the transaction. 

Accordingly, the Department herein 

grants the exemption, effective 

November 18, 2008. 

For Further Information Contact: Gary 

H. Lefkowitz of the Department, 

telephone (202) 693–8546. (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) This exemption is 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 this exemption 

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 19th day of 

February, 2009. 

Ivan Strasfeld, 

Director of Exemption Determinations, 

Employee Benefits Security Administration, 

U.S. Department of Labor. 

[FR Doc. E9–3998 Filed 2–24–09; 8:45 am] 

BILLING CODE 4510–29–P 

DEPARTMENT OF LABOR 

Employee Benefits Security 

Administration 

[Application Nos. and Proposed 

Exemptions; D–11447, Verizon 

Investment Management Company; D– 

11470, M&T Bank Corporation Pension 

Plan; D–11493, Schloer Enterprises, 

Inc. 401(k) Profit Sharing Plan (the 

Plan); and D–11501, Morgan Stanley & 

Co. Incorporated, et al.] 

AGENCY: Employee Benefits Security 

Administration, Labor. 

ACTION: Notice of Proposed Exemptions. 

SUMMARY: This document contains 

notices of pendency before the 

Department of Labor (the Department) of 

proposed exemptions 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). 

Written Comments and Hearing 

Requests 

All interested persons are invited to 

submit written comments or requests for 

a hearing on the pending exemptions, 

unless otherwise stated in the Notice of 

Proposed Exemption, within 45 days 

from the date of publication of this 

Federal Register Notice. Comments and 

requests for a hearing should state: (1) 

The name, address, and telephone 


pwalker on PROD1PC71 with NOTICES