Federal Register / Vol. 60, No. 39 / Tuesday, February 28, 1995 / Notices 10879

Guaranteed Investment Contract #62043

(the GIC) issued by Confederation Life

Insurance Company (Confederation), a

Canadian insurance corporation, by the

Plan to Jerome Food, Inc. (the

Employer), a Wisconsin corporation, the

sponsoring employer and a party in

interest with respect to the Plan:

provided that (1) the Sale is a one-time

transaction for cash; (2) the Plan

experiences no loss nor incurs any

expense from the Sale; and (3) the Plan

receives as consideration from the Sale

the greater of either the fair market

value of the GIC as determined on the

date of the Sale, or the principal amount

of $500,000 plus simple interest accrued

at the rate of 9.03 percent per annum on

the principal amount of the GIC for the

period from January 25, 1994, to the

date of the Sale.

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

January 4, 1995, at 60 FR 487.

FOR FURTHER INFORMATION CONTACT: Mr.

C. E. Beaver of the Department,

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

a toll-free number.)

Employee Profit Sharing-Savings Plan and

Trust Agreement of Modern Globe, Inc. (the

Plan), Located in Wyomissing, PA

[Prohibited Transaction Exemption 95–18;

Exemption Application No. D–09893]

Exemption

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 apply to the cash sale

(the Sale) of the Guaranteed Investment

Company Contract No. 62580 (the GIC),

issued by Confederation Life Insurance

of Atlanta, Georgia (Confederation), by

the Plan to VF Corporation, a

Pennsylvania corporation (the

Employer), the sponsoring employer

and a party in interest with respect to

the Plan; provided that (1) the Sale is a

one-time transaction for cash; (2) the

Plan experiences no loss nor incurs any

expense from the Sale; and (3) the Plan

receives as consideration from the Sale

the greater of either the fair market

value of the GIC as determined on the

date of the Sale, or an amount that is

equal to the total amount expended by

the Plan when acquiring the GIC, plus

all interest accruing under the terms of

the GIC until date of Sale.

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

January 4, 1995, at 60 FR 491.

FOR FURTHER INFORMATION CONTACT: Mr.

C. E. Beaver of the Department,

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

a toll-free number.)

Employees’ Savings Plan of Bassett-Walker,

Inc., Located in Martinsville, VA [Prohibited

Transaction Exemption 95–19; Exemption

Application No. D–09894]

Exemption

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 the cash

sale (the Sale) of the Guaranteed

Investment Contract No. 62012 (the

GIC), issued by Confederation Life

Insurance Company of Atlanta, Georgia

(Confederation), by the plan to VF

Corporation, a Pennsylvania

corporation, a party in interest with

respect to the Plan; provided that (1) the

Sale is a one-time transaction for cash;

(2) the Plan experiences no loss nor

incurs any expense from the Sale; and

(3) the Plan receives as consideration

from the Sale the greater of either the

fair market value of the GIC as

determined on the date of the Sale, or

$1.5 million, the principal amount of

the GIC, plus simple interest accrued at

the rate of 8.7 percent per annum on the

principal amount of the GIC for the

period from April 4, 1994, to the date

of the Sale.

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

January 4, 1995, at 60 FR 489.

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 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 each

application accurately described all

material terms of the transaction which

is the subject of the exemption.

Signed at Washington, D.C., this 23rd day

of February, 1995.

Ivan Strasfeld,

Director of Exemption Determinations,

Pension and Welfare Benefits Administration,

Department of Labor.

[FR Doc. 95–4888 Filed 2–27–95; 8:45 am]

BILLING CODE 4510–29–M

NATIONAL ARCHIVES AND RECORDS

ADMINISTRATION

Advisory Committee on Preservation;

Meeting

Notice is hereby given that the

National Archives Advisory Committee

on Preservation will meet Friday, March

31, 1995. The meeting will be held from

9:00 a.m. to 3:00 p.m. on Friday, March

31, 1995, in Room 105 of the National

Archives Building, 7th and

Pennsylvania Avenue NW., Washington,

DC 20408.

The agenda for the meeting will be:

1. Charters of Freedom monitoring

program

2. Review of Charters’ encasement

system

3. Condition of encasement glass

4. Risk analysis and options

This meeting is open to the public.

For further information, contact Alan

Calmes on (301) 713–7403.

Dated: February 15, 1995.

Trudy Huskamp Peterson,

Acting Archivist of the United States.

[FR Doc. 95–4799 Filed 2–27–95; 8:45 am]

BILLING CODE 7515–01–M