EMPLOYEE BENEFITS SECURITY ADMINISTRATION ISSUES NOTICE: EXEMPTION INVOLVING HAWAI'I PACIFIC HEALTH AND ITS SUBSIDIARY: STRAUB CLINIC & HOSPITAL LOCATED IN HONOLULU, HAWAII

WASHINGTON, Aug. 21 -- Employee Benefits Security Administration has issued a notice called: Exemption Involving Hawai'i Pacific Health and Its Subsidiary: Straub Clinic & Hospital Located in Honolulu, Hawaii.

The notice was published in the Federal Register on Aug. 21 by Christopher Motta, Acting Director, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor.

Summary: This exemption permits the Hawai'i Pacific Health Retirement Plan (the Plan) to sell property (the Property) to Straub Clinic & Hospital (Straub) for the greater of $16, 247, 000 or 110% of the Appraised Value of the Property as of the date of the sale (the Sale). Absent this exemption, the Sale would violate certain prohib...