63062 Federal Register / Vol. 60, No. 236 / Friday, December 8, 1995 / Notices

each calendar quarter, is a summary of

these employer (micro-level) data by

industry at the county level. Similar

data for Federal Government employees

covered by the Unemployment

Compensation for Federal Employees

(UCFE) Program are also included in

each State report. These data are

submitted by all 50 States, the District

of Columbia, Puerto Rico, and the Virgin

Islands to the Bureau of Labor Statistics

(BLS) which then summarizes these

macro-level data to produce totals for

the States and the Nation. The ES–202

Report provides a virtual census of

nonagricultural employees and their

wages, with about 47 percent of the

workers in agriculture covered as well.

As part of the ES–202 Program, the

States also send micro-level

employment and wages data,

supplemented with the names and

addresses of employers, to BLS. These

States’ data are used to create a BLS

sampling frame, known as the Business

Establishment List. This file represents

one of the best sources of detailed

industrial and geographical data on

employers and is used as the sampling

frame for most BLS surveys. The

Business Establishment List includes

the individual employer employment

and wages data along with associated

business identification information that

is maintained by each State to

administer the UI program as well as the

UCFE program.

For employers having only a single

physical location (worksite) in the State

and, thus, operating under a single

assigned industrial and geographical

code, the data from the States’ UI

accounting file are sufficient for

statistical purposes. Such data,

however, are inadequate for statistical

purposes for those employers having

multiple establishments or engaged in

different industrial activities within the

State. In such cases, the employer’s

Quarterly Contributions Report may

reflect only Statewide employment and

wages and is not disaggregated by

establishment or worksite. Although

this level of data is sufficient for many

purposes of the UI Program, more

detailed information is required to

create a sampling frame and meet the

needs of several ongoing Federal/State

statistical programs. As a result of the

Multiple Worksite Report, improved

establishment business identification

data elements have been incorporated

into and maintained on the Business

Establishment List. Establishment

identification data elements in the

Business Establishment List include a

physical location address, secondary

name (division, trade name, subsidiary,

etc.), and reporting unit description

(store number, plant name or number,

etc.) for each worksite of multiestablishment employers.

Employers with more than one

establishment reporting under the same

U.I. account number within a State are

requested to complete the Multiple

Worksite Report if the sum of the

employment in all of their secondary

establishments is 10 or greater. The

primary worksite is defined as the

establishment with the greatest number

of employees. Upon receipt of the first

Multiple Worksite Report form, each

employer is requested to supply

business location identification

information. Thereafter, this reported

information is computer-printed on the

Multiple Worksite Report each quarter.

The employer is requested to verify the

accuracy of this business identification

information and provide only the

employment and wages for each

worksite for that quarter. By using a

standardized form, the reporting burden

on many large employers, especially

those engaged in multiple economic

activities at various locations across

numerous States, has been reduced.

Comparable to the Multiple Worksite

Report, the function of the Report of

Federal Employment and Wages is to

collect employment and wage data for

each installation of a federal agency.

The Report of Federal Employment and

Wage aids in the development and

maintenance of business identification

information by installation. The Report

of Federal Employment and Wages was

modeled after the Multiple Worksite

Report and is used only to collect data

from Federal agencies covered by the

UCFE program.

II. Current Actions

No other standardized report is

available to collect current

establishment-level employment and

wages data by SESAs for statistical

purposes each quarter. Also, no other

standardized report currently is

available to collect installation-level

Federal employment and wages data by

SESAs for statistical purposes.

The Bureau of Labor Statistics has

taken steps to help reduce employer

reporting burden by developing a

standardized format for employers to

use to send these data to the States in

an electronic medium. The Bureau also

established an Electronic Data

Interchange (EDI) Collection Center to

improve and expedite the Multiple

Worksite Report collection process.

Employers who complete the Multiple

Worksite Report for multi-location

businesses can now submit employment

and wages information on any

electronic medium (tape, cartridge,

diskette, or computer-to-computer)

directly to the data collection center, in

lieu of each State agency. The data

collection center then distributes the

appropriate data to each State.

Type of Review: Extension of

currently approved collection.

Agency: Bureau of Labor Statistics.

Title: Multiple Worksite Report

(MWR) and Report of Federal

Employment and Wages (RFEW).

OMB Number: 1220–0134.

Frequency: Quarterly.

Affected Public: Business or other forprofit institutions, not for-profit

institutions, Federal Government, and

State, local or tribunal government.

Number of Respondents: 117,911.

Estimated Time Per Response: 22.2

minutes.

Total Burden Hours: 174.508 hours.

Comments submitted in response to

this notice will be summarized and/or

included in the request for Office of

Management and Budget approval of the

ICR; they also will become a matter of

public record.

Signed at Washington, DC, this 5th day of

December, 1995.

W. Stuart Rust, Jr.,

Acting Chief, Division of Management

Systems, Bureau of Labor Statistics.

[FR Doc. 95–29977 Filed 12–7–95; 8:45 am]

BILLING CODE 4510–24–M

Pension and Welfare Benefits

Administration

[Prohibited Transaction Exemption 95–108,

Exemption Application No. D–09973, et al.]

Grant of Individual Exemptions; Kay

Alden, Inc. Money Purchase Plan (the

Plan), 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, D.C. The
Federal Register / Vol. 60, No. 236 / Friday, December 8, 1995 / Notices 63063

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.

Kay Alden, Inc. Money Purchase Plan

(the Plan), Located in Chicago, Illinois;

Exemption

[Prohibited Transaction Exemption 95–108;

Exemption Application No. D–09973]

The restrictions of sections 406(a),

406(b)(1) and 406(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 purchase of real property (the

Purchase) by the Plan from Mr. Vernon

Nelson (Nelson), a party in interest with

respect to the Plan provided that: (a)

The Purchase is a one time transaction

for cash; (b) the Plan will pay no more

than fair market value for the Property,

as determined by an independent

qualified real estate appraiser at the

time of the transaction; (c) the fair

market value of the Property represents

no more than 25% of the value of the

Plan’s assets; (d) the Plan’s interests

with respect to the Purchase are

represented by two independent

fiduciaries; (e) the Plan will pay no fees

or commissions associated with the

Purchase; and (f) all terms and

conditions of the Purchase are at least

as favorable to the Plan as those

obtainable in an arm’s length

transaction with an unrelated party.

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, 1995 at 60 FR 53805.

FOR FURTHER INFORMATION CONTACT:

Allison Padams of the Department,

telephone (202) 219–8971. (This is not

a toll-free number.)

Rea Magnet Wire Company, Inc.

Employees’ Retirement Savings Plan

and Rea Magnet Wire Company, Inc.

Union Employees’ Retirement Savings

Plan (together, the Plans) Located in

Fort Wayne, Indiana; Exemption

[Prohibited Transaction Exemption 95–109;

Exemption Application Nos. D–10075 and

D–10076]

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

proposed sale by the Plans of two

guaranteed investment contracts (the

GICs) of Confederation Life Insurance

Company (CL) to Rea Magnet Wire

Company, Inc. (Rea), a party in interest

with respect to the Plans, provided the

following conditions are satisfied: a) the

sale is a one-time transaction for cash;

b) the Plans will receive no less than the

fair market value of the GICs as of the

date of the sale; and c) the purchase

price will be not less than the GICs’

accumulated book values at their

maturity date (defined as total deposits

plus interest accrued but unpaid at the

GICs’ stated rates of interest through the

date of maturity, less withdrawals) plus

interest from the date of maturity

through the date of the sale at the rate

then being earned under the Plans’

‘‘GIC/Stable Value Fund’’.

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 25, 1995 at 60 FR 49426.

FOR FURTHER INFORMATION CONTACT: Gary

H. Lefkowitz of the Department,

telephone (202) 219–8881. (This is not

a toll-free number.)

Profit Sharing Plan of NEBCO, Inc.

Located in Lincoln, Nebraska;

Exemption

[Prohibited Transaction Exemption 95–110;

Exemption Application No. D–10096]

The restrictions of sections 406(a) and

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 (1) the

extensions of credit in the form of

guarantees and advances of funds (the

Advances) to the Plan by NEBCO, Inc.

(the Employer), the sponsor of the Plan,

with respect to the Guaranteed

Investment Contract No. 64238 (the GIC)

issued by Confederation Life Insurance

Company of Canada (Confederation);

and (2) the repayment of the Advances

by the Plan to the Employer; provided

that the following conditions are

satisfied: (a) All terms and conditions of

the transactions are no less favorable to

the Plan than those which the Plan

would receive in arm’s length

transactions; (b) No interest payments or

expenses will be incurred by the Plan

with respect to the transactions; (c)

Repayment of the Advances will be

restricted to proceeds from the GIC (GIC

Proceeds); (d) Repayment of Advances

will be waived by the Employer to the

Extent that Advances exceed the GIC

Proceeds; and (e) All unpaid principal

and earned interest of the GIC will be

completely paid by the Advances to the

Plan by March 15, 2000.

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 6, 1995, at 60 FR 52419.

FOR FURTHER INFORMATION CONTACT: Mr.

C.E. Beaver of the Department,

telephone (202) 219–8881. (This is not

a toll-free number.)

Profit Sharing Plan of Constructors, Inc.

(the Plan) Located in Lincoln,

Nebraska; Exemption

[Prohibited Transaction Exemption 95–111;

Exemption Application No. D–10097]

The restrictions of sections 406(a) and

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 (1) the

extensions of credit in the form of

guarantees and advances of funds (the

Advances) to the Plan by Constructors,

Inc. (the Employer), the sponsor of the

Plan, with respect to the Guaranteed

Investment Contract No. 64238 (the GIC)

issued by Confederation Life Insurance

Company of Canada (Confederation);

and (2) the repayment of the Advances

by the Plan to the Employer; provided

that the following conditions are

satisfied: (a) All terms and conditions of

the transactions are no less favorable to
63064 Federal Register / Vol. 60, No. 236 / Friday, December 8, 1995 / Notices

the Plan than those which the Plan

would receive in arm’s length

transactions; (b) No interest payments or

expenses will be incurred by the Plan

with respect to the transactions; (c)

Repayment of the Advances will be

restricted to proceeds from the GIC (GIC

Proceeds); (d) Repayment of Advances

will be waived by the Employer to the

Extent that Advances exceed the GIC

Proceeds; and (e) All unpaid principal

and earned interest of the GIC will be

completely paid by the Advances to the

Plan by March 15, 2000.

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 6, 1995, at 60 FR 52421.

FOR FURTHER INFORMATION CONTACT: Mr.

C. E. Beaver of the Department,

telephone (202) 219–8881. (This is not

a toll-free number.)

Universal Surety Company Profit

Sharing Plan (the Plan) Located in

Lincoln, Nebraska; Exemption

[Prohibited Transaction Exemption 95–112;

Exemption Application No. D–10098]

The restrictions of sections 406(a) and

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 (1) the

extensions of credit in the form of

guarantees and advances of funds (the

Advances) to the Plan by Universal

Surety Company (the Employer), the

sponsor of the Plan, with respect to the

Guaranteed Investment Contract No.

64238 (the GIC) issued by Confederation

Life Insurance Company of Canada

(Confederation); and (2) the repayment

of the Advances by the Plan to the

Employer; provided that the following

conditions are satisfied: (a) All terms

and conditions of the transactions are

no less favorable to the Plan than those

which the Plan would receive in arm’s

length transactions; (b) No interest

payments or expenses will be incurred

by the Plan with respect to the

transactions; (c) Repayment of the

Advances will be restricted to proceeds

from the GIC (GIC Proceeds); (d)

Repayment of Advances will be waived

by the Employer to the Extent that

Advances exceed the GIC Proceeds; and

(e) All unpaid principal and earned

interest of the GIC will be completely

paid by the Advances to the Plan by

March 15, 2000.

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 6, 1995, at 60 FR 52422.

FOR FURTHER INFORMATION CONTACT: Mr.

C. E. Beaver of the Department,

telephone (202) 219–8881. (This is not

a toll-free number.)

Constructors, Inc. 401(k) Plan (the Plan)

Located in Lincoln, Nebraska;

Exemption

[Prohibited Transaction Exemption 95–113;

Exemption Application No. D–10099]

The restrictions of sections 406(a) and

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 (1) the

extensions of credit in the form of

guarantees and advances of funds (the

Advances) to the Plan by Constructors,

Inc. (the Employer), the sponsor of the

Plan, with respect to the Guaranteed

Investment Contract No. 64238 (the GIC)

issued by Confederation Life Insurance

Company of Canada (Confederation);

and (2) the repayment of the Advances

by the Plan to the Employer; provided

that the following conditions are

satisfied: (a) All terms and conditions of

the transactions are no less favorable to

the Plan than those which the Plan

would receive in arm’s length

transactions; (b) No interest payments or

expenses will be incurred by the Plan

with respect to the transactions; (c)

Repayment of the Advances will be

restricted to proceeds from the GIC (GIC

Proceeds); (d) Repayment of Advances

will be waived by the Employer to the

Extent that Advances exceed the GIC

Proceeds; and (e) All unpaid principal

and earned interest of the GIC will be

completely paid by the Advances to the

Plan by March 15, 2000.

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 6, 1995, at 60 FR 52424.

FOR FURTHER INFORMATION CONTACT: Mr.

C.E. Beaver 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 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 5th day of

December, 1995.

Ivan Strasfeld,

Director of Exemption Determinations,

Pension and Welfare Benefits Administration,

U.S. Department of Labor.

[FR Doc. 95–29985 Filed 12–7–95; 8:45 am]

BILLING CODE 4510–29–P

[Application Nos. D–09969 and D–09970]

Proposed Exemptions; Timberland

Investment Group, Inc. (Timberland)

and Wachovia Bank of Georgia, N.A.

(the Investment Manager)

AGENCY: Pension and Welfare Benefits

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 restriction of the

Employee Retirement Income Security

Act of 1974 (the Act) and/or the Internal

Revenue Code of 1986 (the Code).