Federal Register / Vol. 73, No. 195 / Tuesday, October 7, 2008 / Notices 58631 

or other party in interest or disqualified 

person with respect to a plan, from 

certain other provisions of ERISA and 

the Code, including any prohibited 

transaction provisions to which the 

exemption does not apply and the 

general fiduciary responsibility 

provisions of section 404 of ERISA 

which require, among other things, that 

a fiduciary act prudently and discharge 

his or her duties respecting the plan 

solely in the interests of the participants 

and beneficiaries of the plan. 

Additionally, the fact that a transaction 

is the subject of an exemption does not 

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 does not extend to 

transactions prohibited under section 

406(b)(3) of the Act or section 

4975(c)(1)(F) of the Code; 

(3) In accordance with section 408(a) 

of the Act and section 4975(c)(2) of the 

Code, the Department finds that the 

exemption is administratively feasible, 

in the interests of the plan and of its 

participants and beneficiaries, and 

protective of the rights of participants 

and beneficiaries of such plans; 

(4) The amendment is applicable to a 

particular transaction only if the 

transaction satisfies the conditions 

specified in the exemption; and 

(5) The amendment is supplemental 

to, and not in derogation of, any other 

provisions of ERISA and the Code, 

including statutory or administrative 

exemptions and transitional 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. 

Amendment 

Under section 408(a) of the Act and 

section 4975(c)(2) of the Code and in 

accordance with the procedures set 

forth in 29 CFR 2570, Subpart B (55 FR 

32836, 32847, August 10, 1990), the 

Department amends PTE 2006–06 as set 

forth below: 

Exemption * * * 

I. Covered Transactions * * * 

(b) * * * 

(1) Designate itself or an affiliate as: 

(i) Provider of an individual retirement 

plan; (ii) provider, in the case of a 

distribution on behalf of a designated 

beneficiary (as defined by section 

401(a)(9)(E) of the Code) who is not the 

surviving spouse of the deceased 

participant, of an inherited individual 

retirement plan (within the meaning of 

section 402(c)(11) of the Code) 

established to receive the distribution 

on behalf of the nonspouse beneficiary 

under the circumstances described in 

section (d)(1)(ii) of the Safe Harbor 

Regulation for Terminated Plans (29 

CFR section 2550.404a–3) (the Safe 

Harbor Regulation); or (iii) provider of 

an interest bearing, federally insured 

bank or savings association account 

maintained in the name of the 

participant or beneficiary, in the case of 

a distribution described in section 

(d)(1)(iii) of the Safe Harbor Regulation, 

for the distribution of the account 

balance of the participant or beneficiary 

of the abandoned individual account 

plan who does not provide direction as 

to the disposition of such assets; 

V. Definitions * * * 

(b) The term ‘‘individual retirement 

plan’’ means an individual retirement 

plan described in section 7701(a)(37) of 

the Code. For purposes of section III of 

this exemption, the term ‘‘individual 

retirement plan’’ shall also include an 

inherited individual retirement plan 

(within the meaning of section 

402(c)(11) of the Code) established to 

receive a distribution on behalf of a 

nonspouse beneficiary. Notwithstanding 

the foregoing, the term individual 

retirement plan shall not include an 

individual retirement plan which is an 

employee benefit plan covered by Title 

I of ERISA. 

Signed at Washington, DC, this 26th day of 

September, 2008. 

Ivan L. Strasfeld, 

Director, Office of Exemption Determinations. 

[FR Doc. E8–23429 Filed 10–6–08; 8:45 am] 

BILLING CODE 4510–29–P 

DEPARTMENT OF LABOR 

Employment and Training 

Administration 

Notice of a Change in Status of an 

Extended Benefit (EB) Period for 

Alaska 

AGENCY: Employment and Training 

Administration, Labor. 

ACTION: Notice. 

SUMMARY: This notice announces a 

change in benefit period eligibility 

under the EB Program for Alaska. 

The following change has occurred 

since the publication of the last notice 

regarding the State’s EB status: 

• Based on data reported by the 

Bureau of Labor Statistics on September 

19, 2008, Alaska triggered ‘‘off’’ EB. 

Alaska’s 3-month total unemployment 

rate for June, July and August fell to 

109% of the prior year and 106% of the 

second prior year for the same period. 

This causes Alaska to be triggered ‘‘off’’ 

an EB period. After the week ending 

October 11, 2008, workers who exhaust 

their regular UI benefits will no longer 

be eligible to collect up to an additional 

13 weeks of UI benefits under this 

program. 

Information for Claimants 

The duration of benefits payable in 

the EB Program, and the terms and 

conditions on which they are payable, 

are governed by the Federal-State 

Extended Unemployment Compensation 

Act of 1970, as amended, and the 

operating instructions issued to the 

states by the U.S. Department of Labor. 

In the case of a state ending an EB 

period, the State Workforce Agency will 

furnish a written notice to each 

individual who is currently filing a 

claim for EB of the forthcoming end of 

the EB period and its effect on the 

individual’s rights to EB (20 CFR 

615.13(c)(4)). 

FOR FURTHER INFORMATION CONTACT: 

Scott Gibbons, U.S. Department of 

Labor, Employment and Training 

Administration, Office of Workforce 

Security, 200 Constitution Avenue, 

NW., Frances Perkins Bldg., Room S– 

4231, Washington, DC 20210, telephone 

number (202) 693–3008 (this is not a 

toll-free number) or by e-mail: 

gibbons.scott@dol.gov. 

Signed in Washington, DC, this 29th day of 

September, 2008. 

Brent R. Orrell, 

Deputy Assistant Secretary of Labor for 

Employment and Training. 

[FR Doc. E8–23637 Filed 10–6–08; 8:45 am] 

BILLING CODE 4510–FW–P 

DEPARTMENT OF LABOR 

Employment and Training 

Administration 

Notice of a Change in Status of an 

Extended Benefit (EB) Period for North 

Carolina 

AGENCY: Employment and Training 

Administration, Labor. 

ACTION: Notice. 

SUMMARY: This notice announces a 

change in benefit period eligibility 

under the EB Program for North 

Carolina. 

The following change has occurred 

since the publication of the last notice 

regarding the State’s EB status: 

• Based on data reported by the 

Bureau of Labor Statistics on September 

19, 2008, North Carolina’s 3-month 

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