Section 3 42 Of Erisa

Paragraph a 2 of this section contains a general rule relating to plan investments.

Section 3 42 of erisa. 1002 a statutory provision added under the pension protection act of 2006 a benefit plan investor bpi is any of the following. The employee retirement income security act of 1974 erisa is a federal law that sets minimum standards for most voluntarily established retirement and health plans in private industry to provide protection for individuals in these plans. Paragraphs b through f of this section define.

Summary of the employee retirement income security act erisa introduction. Section iv discusses a specific class exemption the so called qpam exemption issued by the dol that permits certain categories of transactions and services in the event that a hedge fund attains plan asset. Sets minimum standards.

This letter constitutes an advisory opinion under erisa procedure 76 1 41 fed. 1002 for the different types of welfare benefit plans. Section 2510 3 101 as modified by section 3 42 of erisa of.

1 this section describes what constitute assets of a plan with respect to a plan s investment in another entity for purposes of subtitle a and parts 1 and 4 of subtitle b of title i of the act and section 4975 of the internal revenue code. This note describes when a private investment fund such as a private equity fund will be treated as an entity holding plan. Under plan asset regulations issued by the department of labor dol and modified by section 3 42 of the employee retirement income security act of 1974 erisa 29 u s c.

1002 38 b ii as amended by subsection a relating to provision to the secretary of labor of a copy of the form referred to therein if a copy of such form or substantially similar. Benefit plan investor means i an employee benefit plan as defined in section 3 3 of erisa that is subject to title i of erisa ii a plan as defined in section 4975 e 1 of the code that is subject to section 4975 of the code or iii an entity deemed to hold the plan assets within the meaning of 29 c f r. Section iii discusses the consequences to an erisa covered plan of investing in a plan asset look through hedge fund.

The determination of whether a entity is treated as holding erisa plan assets is made based on the final regulations issued by the dol as modified by erisa section 3 42 a statutory provision added under the pension protection act of 2006 together the plan asset rules. See erisa 3 1 29 u s c. Erisa requires plans to provide participants with plan information including important information about plan features and funding.