Labour market · 05/07/2023

Exemption Granted to PIMCO from ERISA Restrictions

The US Department of Labor has issued an exemption to Pacific Investment Management Company LLC (PIMCO) from certain prohibited transaction restrictions under the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code, allowing PIMCO-affiliated asset managers to continue relying on a specific exemption despite a conviction against another company, Allianz Global Investors US LLC.