Page:United States Statutes at Large Volume 100 Part 4.djvu/205

 PUBLIC LAW 99-556—OCT. 27, 1986

100 STAT. 3133

SEC. 111. INTERIM EXEMPTION PROCEDURES.

(a) IN GENERAL.—Subject to subsection (b), until such time as final 5 USC 8477 note. regulations under subparagraph (A) of section 8477(c)(3) of title 5, United States Code, become effective, the Secretary of Labor may, in accordance with procedures under section 408(a) of the Employee Retirement Income Security Act of 1974, grant any exemption 29 USC 1108. allowable under such section 8477(c)(3). (b) TERMINATION OF INTERIM AUTHORITY.—The authority to grant an exemption under section 8477(c)(3) of title 5, United States Code, using the procedures under section 408(a) of the Employee Retirement Income Security Act of 1974 shall expire not later than December 31, 1988. SEC. 112. ADOPTION OF ERISA ADMINISTRATIVE EXEMPTIONS.

Section 8477(c)(3) is amended by adding at the end thereof the Federal following:

Register,

"(E) Notwithstanding subparagraph (D), the Secretary of Labor Publication. may determine that an exemption granted for any class of fiduciaries or transactions under section 408(a) of the Employee Retirement Income Security Act of 1974 shall, upon publication of notice 29 USC 1108. in the Federal Register under this subparagraph, constitute an exemption for purposes of the provisions of paragraph (2).". SEC. 113. INTERIM BONDING REGULATIONS.

(a) IN GENERAL.—Subject to subsection (b), until such time as the 5 USC 8478 note. Secretary of Labor promulgates final regulations under section 8478 of title 5, United States Code, the Secretary of Labor may, with respect to the Thrift Savings Fund, apply the temporary regulations under section 412 of the Employee Retirement Income Security Act of 1974 that are set forth in section 2550.412-1, and subchapter I of 29 USC 1112. chapter XXV, of title 29 of the Code of Federal Regulations, as in effect on September 23, 1986. 0)) TERMINATION OF INTERIM AUTHORITY.—The authority to apply the temporary regulations referred to in subsection (a) with respect to the Thrift Savings Fund shall expire not later than December 31, 1989. SEC. 114. ALLOCATION OF FIDUCIARY RESPONSIBILITIES.

(a) INTERIM PROCEDURES.—(1) Subject to paragraph (2), until such 5 USC 8477 note. time as final regulations under subparagraph (E) of section 8477(e)(l) of title 5, United States Code, become effective, a fiduciary (as defined by section 8477(a)(3) of title 5, United States C!ode) may, in accordance with procedures established by the Federal Retirement Thrift Investment Board, make any allocation of fiduciary responsibilities. (2) The authority to make any allocation under section 8477(e)(l)(E) using the procedures referred to in paragraph (1), and any allocation so made using such procedures, shall expire not later than December 31, 1988. (b) CONFORMING AMENDMENT.—Section 8477(e) dXEXi) is amended by striking "Board" and inserting "Secretary of Labor (or the Board under section 114 of the Federal Employees' Retirement System Technical Corrections Act of 1986)".

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