Labour market · 24/03/1995

Proposed Class Exemption for Plan Asset Transactions Determined by In-House Asset Managers

This document contains a notice of pendency before the Department of Labor (the Department) of a proposed class exemption from certain prohibited transaction restrictions of the Employee Retirement Income Security Act (ERISA or the Act) and from certain taxes imposed by the Internal Revenue Code of 1986 (the Code). If granted, the proposed exemption would exempt various transactions involving employee benefit plans whose assets are managed by in-house managers (INHAMS), provided that the conditions of the proposal are met. The proposed exemption, if granted, would affect participants and beneficiaries of employee benefit plans, the sponsoring employers of such plans, INHAMS, and other persons engaging in the described transactions.