Debate on ETIs continues; exemption for InHAMS

Article Abstract:

The Dept. of Labor (DOL) allows plan fiduciaries to invest pension funds in economically targeted investments (ETIs) under the Employee Retirement Income Security Act of 1974 (ERISA). ERISA requires the plan fiduciary to invest prudently and act solely in the interest of the beneficiaries. However, Congress has disagreed with DOL's interpretation of ETIs under ERISA. The prohibited transaction class exemption (PTCE 84-14) issued by DOL exempted some transactions between a plan whose assets were managed by a qualified professional asset manager and a party-in-interest.

Investments, Defined benefit plans, United States. Department of Labor

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Non-ERISA criminal laws apply to plan misconduct

Article Abstract:

Violations under the ERISA are subject to criminal and civil liabilities. ERISA has its own criminal laws concerning plan-related violations such as the willful violation of reporting and disclosure rules. Sec. 664 of Title 18 of the United States Code makes embezzlement of ERISA plan assets illegal. Sec. 1027 of Title 18 also makes falsification or concealment of material facts of ERISA documents illegal. Sec. 1954 of Title 18 considers bribery in connection with ERISA a crime.

Salary reduction savings plans, 401K plans

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