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Federal Register/Vol. 83, No. 248/Friday, December 28, 2018

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Federal Register/Vol. 83, No. 248/Friday, December 28, 2018 67654 Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices DEPARTMENT OF LABOR Suite 400, Washington, DC 20001. The applications contain Attention: Application No._ stated in representations with regard to the Employee Benefits Security each Notice of Proposed Exemption. proposed exemptions which are Administration Interested persons are also invited to summarized below. Interested persons submit comments and/or hearing are referred to the applications on file Proposed Exemptions From Certain requests to EBSA via email or FAX. Any with the Department for a complete Prohibited Transaction Restrictions such comments or requests should be statement of the facts and AGENCY: Employee Benefits Security sent either by email to: [email protected], representations. Administration, Labor. by FAX to (202) 693–8474, or online The Les Schwab Tire Centers of Washington, Inc. (Les Schwab ACTION: Notice of Proposed Exemptions. through http://www.regulations.gov by the end of the scheduled comment Washington), the Les Schwab Tire SUMMARY: This document contains period. The applications for exemption Centers of Boise, Inc. (Les Schwab notices of pendency before the and the comments received will be Boise), and the Les Schwab Tire Centers Department of Labor (the Department) of available for public inspection in the of Portland, Inc. (Les Schwab Portland), proposed exemptions from certain of the Public Documents Room of the (collectively, with their Affiliates, Les prohibited transaction restrictions of the Employee Benefits Security Schwab or the Applicant) Located in Employee Retirement Income Security Administration, U.S. Department of Aloha, Oregon; Boise, Idaho; Centralia, Act of 1974 (ERISA or the Act) and/or Labor, Room N–1515, 200 Constitution Washington; and Other Locations the Internal Revenue Code of 1986 (the Avenue NW, Washington, DC 20210. [Application No. D–11924]. Code). If granted, these proposed WARNING: All comments will be Proposed Exemption exemptions allow designated parties to made available to the public. Do not The Department is considering engage in transactions that would include any personally identifiable granting an exemption under the otherwise be prohibited provided the information (such as Social Security authority of section 408(a) of the Act (or conditions stated there in are met. This number, name, address, or other contact ERISA), and section 4975(c)(2) of the notice includes the following proposed information) or confidential business Code, and in accordance with the exemptions: D–11924, The Les Schwab information that you do not want procedures set forth in 29 CFR part Tire Centers of Washington, Inc., the Les publicly disclosed. All comments may 2570, subpart B (76 FR 66637, 66644, Schwab Tire Centers of Boise, Inc., and be posted on the internet and can be October 27, 2011).2 If the proposed the Les Schwab Tire Centers of retrieved by most internet search exemption is granted, the restrictions of Portland, Inc.; D–11918, Seventy Seven engines. sections 406(a)(1)(A), 406(a)(1)(D), Energy Inc. Retirement & Savings Plan; SUPPLEMENTARY INFORMATION: 406(b)(1) and 406(b)(2) of the Act, and D–11940, Tidewater Savings and the sanctions resulting from the Retirement Plan; and D–11947, Notice to Interested Persons application of section 4975 of the Code, Principal Life Insurance Company by reason of sections 4975(c)(1)(A), (PLIC) and its Affiliates. Notice of the proposed exemptions will be provided to all interested 4975(c)(1)(D) and 4975(c)(1)(E) of the DATES: All interested persons are invited Code, shall not apply to the sales (each to submit written comments or requests persons in the manner agreed upon by the applicant and the Department, a ‘‘Sale’’ or collectively, the ‘‘Sales’’) by for a hearing on the pending the Les Schwab Profit Sharing exemptions, unless otherwise stated in unless otherwise stated in the Notice of Proposed Exemption, within 15 days of Retirement Plan (the Plan) of the parcels the Notice of Proposed Exemption, by of real property described herein (each, February 11, 2019. the date of publication in the Federal Register. Such notice shall include a a ‘‘Parcel’’ or collectively, the ‘‘Parcels’’) ADDRESSES: Comments and requests for copy of the notice of proposed to the Applicant, where the Applicant is a hearing should state: (1) The name, exemption as published in the Federal a party in interest with respect to the address, and telephone number of the Register and shall inform interested Plan, provided that certain conditions person making the comment or request, persons of their right to comment and to are satisfied. and (2) the nature of the person’s request a hearing (where appropriate). Summary of Facts and interest in the exemption and the Representations 3 manner in which the person would be The proposed exemptions were adversely affected by the exemption. A requested in applications filed pursuant Background to section 408(a) of the Act and/or request for a hearing must also state the 1. Les Schwab Tire Centers (together issues to be addressed and include a section 4975(c)(2) of the Code, and in accordance with procedures set forth in with its affiliates, Les Schwab) was general description of the evidence to be founded by its namesake in 1952 in presented at the hearing. 29 CFR part 2570, subpart B (76 FR 66637, 66644, October 27, 2011).1 Prineville, Oregon, in order to sell tires, All written comments and requests for batteries and other automotive a hearing (at least three copies) should Effective December 31, 1978, section 102 of Reorganization Plan No. 4 of equipment, and provide vehicle be sent via mail to the Employee maintenance services. There are now Benefits Security Administration 1978, 5 U.S.C. App. 1 (1996), transferred the authority of the Secretary of the approximately 482 Les Schwab tire and (EBSA), Office of Exemption automotive service centers located Determinations, U.S. Department of Treasury to issue exemptions of the type requested to the Secretary of Labor. primarily in the Northwest and with Labor, 200 Constitution Avenue NW, over $1.7 billion in annual sales. Their Suite 400, Washington, DC 20210. Therefore, these notices of proposed _ exemption are issued solely by the Attention: Application No. stated in 2 For purposes of this proposed exemption, each Notice of Proposed Exemption or Department. references to the provisions of Title I of the Act, via private delivery service or courier to unless otherwise specified, should be read to refer the Employee Benefits Security 1 The Department has considered exemption as well to the corresponding provisions of the Code. applications received prior to December 27, 2011 3 The Summary of Facts and Representations is Administration (EBSA), Office of under the exemption procedures set forth in 29 CFR based solely on the representations of the Applicant Exemption Determinations, U.S. part 2570, subpart B (55 FR 32836, 32847, August and does not reflect the views of the Department, Department of Labor, 122 C St. NW, 10, 1990). unless indicated otherwise. VerDate Sep<11>2014 22:07 Dec 27, 2018 Jkt 247001 PO 00000 Frm 00002 Fmt 4701 Sfmt 4703 E:\FR\FM\28DEN2.SGM 28DEN2 amozie on DSK3GDR082PROD with NOTICES2 Federal Register / Vol. 83, No. 248 / Friday, December 28, 2018 / Notices 67655 facilities are located in Alaska, exclusive right and discretionary Les Schwab has retained title to the Washington, Oregon, Montana, Nevada, authority to control, manage and operate buildings that have been constructed on Utah, California, Colorado, and Idaho. the Plan. This includes the authority to some of the Parcels, pursuant to the 2. Les Schwab is comprised of 13 direct the investment of the Plan’s assets terms of the relevant leases, in some distinct legal entities. Certain entities and to appoint and remove the Plan’s instances, the purchases do not involve are ‘‘S’’ corporations. The 13 entities Trustees and investment managers. the buildings themselves. Each Parcel constitute various controlled groups but The Committee consists of seven that is the subject of the proposed Sales do not constitute a single controlled trustees (the Trustees), who include is described below in further detail. group. The Form 5500 Annual Report executives and officers of Les Schwab. The Aloha Parcel for the Plan is filed as a multiple The Trustees are appointed by the Chief employer plan. The thirteen entities do Executive Officer of the Warehouse 8. The Plan purchased a 1.97-acre include Les Schwab Washington, Les Center. All of the Trustees are parcel of property, located at 19100 SW Schwab Idaho, Les Schwab Portland, employees of the Warehouse Center, Shaw Street in Aloha, Oregon (the and Les Schwab Warehouse Center, Inc. and some are officers of the Warehouse Aloha Parcel), from an unrelated party (the Warehouse Center). Center and Les Schwab Washington, Les in October 1986, for a total purchase 3. All entities within the Les Schwab Schwab Idaho and Les Schwab price of $300,194. controlled groups are owned by Alan Portland. The Plan and Les Schwab Portland entered into a lease of the Aloha Parcel Schwab, Diana Tomseth, Julie Waibel, Parcel Purchases and Leslie Tuftin (or by trusts for the (the Aloha Parcel Lease), on January 1, benefit of such individuals and/or their 6. Over time, the Plan purchased 1987, with the Plan as landlord, and Les children). Mr. Schwab and Ms. Tomseth twenty-six parcels of real property Schwab Portland, as tenant. Effective as are siblings, and Ms. Waibel and Ms. (collectively, the Parcels). As described of its renewal term commencing January Tuftin are siblings. These four below, following the purchases, the Plan 1, 2014, the monthly rent is $14,453 per entered into leases with various Les month. individuals are the grandchildren of Les 5 Schwab and they are also currently Schwab entities.
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