IRS Advisory Opinion 2011-07A

This document is about an advisory opinion from the U.S. Department of Labor regarding the application of Section I(a) of Prohibited Transaction Exemption 84-14 to the involvement of a stable value manager and wrap contract provider in a stable value program. The Department concludes that the involvement described does not cause the stable value manager or wrap contract provider to have the power to negotiate the terms of the investment management agreement within the meaning of Section I(a).