26740 Federal Register / Vol. 60, No. 96 / Thursday, May 18, 1995 / Notices

Dated: May 15, 1995.

Rober I. Brauer,

Acting Advisory Committee Management

Officer, Joint Board for the Enrollment of

Actuaries.

[FR Doc. 95–12210 Filed 5–17–95; 8:45 am]

BILLING CODE 4810–25–M

DEPARTMENT OF JUSTICE

Notice of Lodging a Final Judgment by

Consent Pursuant to the

Comprehensive Environmental

Response Compensation and Liability

Act (CERCLA)

Notice is hereby given that on May 11,

1995, a proposed consent decree in

United States v. ACF Industries, Inc.,

Civ. A. No. 2.95–0360, was lodged with

the United States District Court for the

Southern District of West Virginia. The

complaint in this action seeks recovery

of costs and injunctive relief under

Sections 106 and 107(a) of the

Comprehensive Environmental

Response, Compensation and Liability

Act (‘‘CERCLA’’), as amended by the

Superfund Amendments and

Reauthorization Act of 1986, Pub. L. 99–

499, 42 U.S.C. §§ 9606, 9607(a). This

action involves the ACF Industries Site

near Eleanor, West Virginia, a property

which the United States acquired by

eminent domain in December 1989.

Under the proposed Consent Decree,

AFC Industries Inc. will pay $2,000,000

for costs incurred by the United States

in performing certain response actions

at the Site. The Decree also requires

ACF Industries Inc. to perform certain

response actions for the Site.

The Department of Justice will receive

comments relating to the proposed

consent decree for a period of thirty

days from the date of publication of this

notice. Comments should be addressed

to the Assistant Attorney General of the

Environment and Natural Resources

Division, Department of Justice, P.O.

Box 7611, Ben Franklin Station,

Washington, DC 20044, and should refer

to United States v. ACF Industries, Inc.,

DOJ Reference No. 90–11–2–681.

The proposed consent decree may be

examined at the Office of the United

States Attorney for the Southern District

of West Virginia, 500 Quarrier St., Room

3201, Charleston, West Virginia, offices

of the U.S. Army Corps of Engineers

Huntington District, 502 Eighth Street,

Huntington, West Virginia 25701, and at

the Consent Decree Library, 1120 ‘‘G’’

Street, NW, 4th Floor, Washington, DC

20005, (202) 624–0892. A copy of the

proposed decree may be obtained in

person or by mail from the Consent

Decree Library at the address listed

above. In requesting a copy, please refer

to the referenced case and number, and

enclose a check in the amount of $16.50

(25 cents per page reproduction costs),

payable to the Consent Decree Library.

Joel M. Gross,

Acting Section Chief, Environment

Enforcement Section, Environmental and

Natural Resources Division.

[FR Doc. 95–12236 Filed 5–17–95; 8:45 am]

BILLING CODE 4410–01–M

DEPARTMENT OF LABOR

Pension and Welfare Benefits

Administration

[Prohibited Transaction Exemption 95–36;

Exemption Application No. D–09798, et al.]

Grant of Individual Exemptions;

Amended Profit Sharing Plan and Trust

of Walker Products Co., Inc., et al.

AGENCY: Pension and Welfare Benefits

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 (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, DC. 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.

Amended Profit Sharing Plan and Trust

of Walker Products Co., Inc. (the P/S

Plan)

Located in Lincoln, Kansas

[Prohibited Transaction Exemption 95–36;

Exemption App. No. D–09798]

Exemption

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 sale of

certain farm land (the Land) by the P/

S Plan to Mr. Lloyd Walker, a 331⁄3%

shareholder of the P/S Plan sponsor and

a party in interest with respect to the P/

S Plan, provided that the following

conditions are satisfied:

(1) The sale will be a one-time cash

transaction;

(2) The P/S Plan will receive the fair

market value of the Land as determined

at the time of the sale by an

independent, qualified appraiser;

(3) The P/S Plan will pay no expenses

associated with the sale; and

(4) The terms of this transaction are at

least as favorable to the P/S Plan as an

arms-length transaction between

unrelated parties.

For a 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

March 20, 1995 at 60 FR 14792/14793.

FOR FURTHER INFORMATION CONTACT:

Ekaterina A. Uzlyan of the Department,

telephone (202) 219–8883. (This is not

a toll-free number.)

The Travelers Separate Account ‘‘R’’

(SAR)

Located in Hartford, Connecticut

[Prohibited Transaction Exemption 95–37;

App. No. D–09827]

Exemption

The restrictions of sections 406(a),

406(b)(1) and 406(b)(2) of the Act and
Federal Register / Vol. 60, No. 96 / Thursday, May 18, 1995 / Notices 26741

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 past lease (the Lease) of space in

an office building located in Cedar

Knolls, New Jersey (the Building) from

December 22, 1993 until June 24, 1994

by SAR to The Travelers Insurance

Company (Travelers), a party in interest

with respect to employee benefit plans

invested in SAR, provided that the

following conditions were satisfied:

(a) All terms and conditions of the

Lease were at least as favorable to SAR

as those which SAR could have

obtained in an arm’s-length transaction

with an unrelated party at the time the

Lease was executed;

(b) The rent paid by Travelers to SAR

under the Lease was not less than the

fair market rental value of the office

space;

(c) LaSalle Partners (LaSalle), acting

as a qualified, independent fiduciary for

SAR during the time that the Building

was owned by SAR, reviewed all terms

and conditions of the Lease prior to the

transaction, as well as any subsequent

modifications to the Lease, and

determined that such terms and

conditions would be in the best interests

of SAR at the time of the transaction;

(d) LaSalle represented the interests of

SAR for all purposes under the Lease as

a qualified, independent fiduciary for

SAR, monitored the performance of the

parties under the terms and conditions

of the Lease, and took whatever action

was necessary to safeguard the interests

of SAR with respect to the Lease during

the time that the Building was part of

SAR’s portfolio; and

(e) Travelers pays to all of SAR’s

contractholders, upon final liquidation

of the properties held by SAR, amounts

necessary to reimburse SAR for

expenses incurred in connection with

the tenant improvements made to the

office space leased to Travelers prior to

the sale of the Building (i.e.,

$1,363,581), as well as all other amounts

required to be paid to SAR’s

contractholders, pursuant to the terms

of the Settlement Agreement arising

from The Travelers Insurance Company

v. Allied-Signal, Inc. Master Pension

Trust, et al. (Civil No. H–90–870–AHN,

USDC D Conn).

EFFECTIVE DATE: This exemption is

effective for the period from December

22, 1993 until June 24, 1994.

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 Proposal)

published on January 18, 1995, at 60 FR

3662.

NOTICE TO INTERESTED PERSONS: The

applicant represents that some of the

employee benefit plans invested in SAR

did not receive notice of the pendency

of the proposed exemption within the

time period specified in the Proposal.

The applicant states that these plans

were subsequently provided with a

separate notice and a copy of the

Proposal on or before March 17, 1995.

Such plans were advised by the

applicant in the separate notice that

they had until April 17, 1995 to

comment and/or request a hearing on

the Proposal. No comments or hearing

requests were received by the

Department.

FOR FURTHER INFORMATION CONTACT: Mr.

E.F. Williams of the Department,

telephone (202) 219–8194. (This is not

a toll-free number.)

Law Offices of Bryson and Berman,

P.A. Employees’ Pension Plan and Trust

(Pension Plan) and Law Offices of

Bryson and Berman, P. A. Employees’

Profit Sharing Plan and Trust (P/S Plan,

collectively; the Plans)

Located in Miami, Florida

[Prohibited Transaction Exemption 95–38;

Exemption App. Nos. D–09884 and D–

09885]

Exemption

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 sale by

the two individual accounts (the

Accounts) in the Plans of Rodney W.

Bryson of two adjacent parcels of vacant

land (Lots 3 and 4, collectively; the

Lots) to Mr. Rodney Bryson (Mr.

Bryson), a trustee of the Plans and a

party in interest with respect to the

Plans; provided that the following

conditions are satisfied:

(a) The sale will be a one-time cash

transaction;

(b) The Accounts in this transaction

will receive the current fair market

value of the Lots established at the time

of the sale by an independent qualified

appraiser;

(c) The Accounts will pay no

expenses associated with the sale; and

(d) The terms of this transaction are

at least as favorable to the Accounts as

an arms-length transaction between

unrelated parties.

For a 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

March 13, 1995 at 60 FR 13472/13473.

FOR FURTHER INFORMATION CONTACT:

Ekaterina A. Uzlyan of the Department,

telephone (202) 219–8883. (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 are true and complete and

accurately describe all material terms of

the transaction which is the subject of

the exemption. In the case of continuing

exemption transactions, if any of the

material facts or representations

described in the application change

after the exemption is granted, the

exemption will cease to apply as of the

date of such change. In the event of any

such change, application for a new

exemption may be made to the

Department.

Signed at Washington, D.C., this 12th day

of May, 1995.

Ivan Strasfeld,

Director of Exemption Determinations,

Pension and Welfare Benefits Administration,

Department of Labor.

[FR Doc. 95–12183 Filed 5–17–95; 8:45 am]

BILLING CODE 4510–29–P