98-13745. Grant of Individual Exemption for the Metropolitan Life Insurance Company (MetLife)

[Federal Register Volume 63, Number 99 (Friday, May 22, 1998)]
[Notices]
[Page 28415]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-13745]


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DEPARTMENT OF LABOR

Pension and Welfare Benefits Administration

[Prohibited Transaction Exemption 98-17; Exemption Application No. D-
10412]


Grant of Individual Exemption for the Metropolitan Life Insurance 
Company (MetLife)

AGENCY: Pension and Welfare Benefits Administration, Department of 
Labor.

ACTION: Notice of technical correction.

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    On April 22, 1998, the Department published in the Federal Register 
at 63 FR 19955, a notice granting an individual exemption (the Grant 
Notice) which would permit, effective April 1, 1997, (1) the purchase 
or retention by an employee benefit plan (the Plan); and (2) the sale 
or continuation by MetLife or an affiliate, of a synthetic guaranteed 
investment contract entered into between the Plan and MetLife under 
which MetLife guarantees certain amounts.
    With respect to the information contained in the Grant Notice, the 
Department notes that there are several typographical errors in the 
paragraph captioned EFFECTIVE DATE: which appears in the second column 
of the Grant Notice on page 19956. As currently drafted, the paragraph 
states that ``If granted, this exemption is effective as of April 1, 
1996.'' Because the operative language of the Grant Notice states that 
the effective date of the exemption is April 1, 1997, the Department 
believes the captioned paragraph should be revised accordingly as 
follows:

EFFECTIVE DATE: This exemption is effective as of April 1, 1997.

FOR FURTHER INFORMATION CONTACT: Ms. Jan D. Broady of the Department, 
telephone [phone]. (This is not a toll-free number.)

    Signed at Washington, D.C., this 18th of May, 1998.
Ivan L. Strasfeld,
Director of Exemption Determinations, Pension and Welfare Benefits 
Administration, U.S. Department of Labor.
[FR Doc. 98-13745 Filed 5-21-98; 8:45 am]
BILLING CODE 4510-29-P