Advisory Opinions

Requests for interpretations and other rulings under Title 1 of ERISA are handled by the Office of Regulations and Interpretations under the provisions established by ERISA Procedure 76-1. The office answers inquiries from individuals and organizations in the form of advisory opinions, which apply the law to a specific set of facts, or information letters, which merely call attention to well established principles or interpretations.

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**1983**
AO/ Date/ Reference	Recipient	Description of Request
1983-34A 06/24/1983 414	Douglas O. Kant Assistant Counsel John Hancock Mutual Life Insurance Company Post Office Box 111 Boston, MA 02117	Whether,by reason of section 414(c)(3) of ERISA, section 406 of ERISA would not apply to the sale by the John Hancock Mutual Life Insurance Company’s Separate Account to the Company's general account of certain interests in mortgages and parcels of real estate that are jointly owned by the Separate Account and the general account.
1983-33A 06/23/1983 3(1) 3(2)	Mr. W.W. Hancock, Jr. Vice President and Secretary Louisville Gas and Electric Company P.O. Box 32010 Louisville, Kentucky 40232	Whether the Voluntary Savings Program of the Louisville Gas and Electric Company (the Savings Program) is an employee pension benefit plan subject to title I of ERISA.
1983-32A 06/21/1983 3(1)	Mr. David J. Bright Director of Professional Development Main Hurdman & Cranstoun 140 Broadway New York, New York 10005	Whether the professional development programs offered by Main Hurdman & Cranstoun for their professional employees are employee welfare benefit plans covered by title I of ERISA.
1983-31A 06/21/1983 103(a)(3)	Mr. David J. Cartano Voegelin & Barton 333 South Grand Avenue – 37th Floor Los Angeles, California 90071-1599	Whether the Audiotronics Profit Sharing Plan (the Plan) is no longer required to engage, pursuant to section 103(a)(3)(A) of ERISA, an independent qualified public accountant to make an examination and report with respect to the financial statements of the Plan.
1983-30A 06/20/1983 103(a)(3)	Ms. Doris Bowling Plan Administrator American General Life Insurance Company P.O. Box 1931 Houston, Texas 77001	Whether it is necessary to engage an independent qualified public accountant for purposes of conducting an examination of the financial statements of the Rebsamen Companies Inc. Employees Pension Plan (the Plan) pursuant to section 103(a)(3)(A) of ERISA.
1983-29A 06/13/1983 406(b)(1) 408(b)(2)	Edwin H. Perry, Esquire Greenebaum, Doll & McDonald 3300 First National Tower Louisville, Kentucky 40202	Whether Shelby County Trust Bank (the Bank) may retain SMC Advisors, Inc. (SMC) to perform investment management and record keeping services for the Bank in the Bank's capacity as trustee for various employee benefit plans whose assets are held by the Bank in the Shelby County Trust Bank Common Trust Fund (the common fund).
1983-28A 06/09/1983 3(1)	Mr. P. Bruce Wright Trubin Sillcocks Edelman & Knapp 375 Park Avenue New York, New York 10152	Whether a life insurance payroll deduction program developed by Provident Life & Accident Company (Provident) and United Enterprise Security Corporation (UESC) to be marketed on a group-type basis would constitute an employee welfare benefit plan within the meaning of section 3(1) of ERISA.
1983-27A 06/08/1983 4(b)	Mr. George H. Lanier King & Spalding 2500 Trust Company Tower Atlanta, Georgia 30303	Whether section 4(b)(4) of ERISA title I excludes the Group Pension Scheme (the Plan) for employees and former employees of the London and Manchester Assurance Company, Ltd. (a UK Company), from coverage under title I of ERISA as the Plan is now operated. You also question whether, if applicable, the Department will continue to apply the section 4(b)(4) exclusion to the Plan after a transaction that entails a United States custodian holding Plan assets and a United States investment advisor managing investments on behalf of the Plan trustee.
1983-26A 05/26/1983 402(a) 403(a) 405	Frederick C. Kneip, Esq. John H. Kelly, Esq. Milbank, Tweed, Hadley & McCloy 1 Chase Manhattan Plaza New York, New York 10005	The application of the fiduciary responsibility provisions of sections 402, 403 and 405 of ERISA to the proposed establishment and subsequent investments of a real estate equity fund. Specifically, if designated under the Investment Management Agreement or Trust Agreement, whether sections 402, 403, and 405 of ERISA would preclude the Frank Russell Trust Company from acting as a Trustee or Investment Manager of the Separate Plans and, as Commingled Trust Trustee with respect to the Real Estate Equity Fund.
1983-25A 05/24/1983 3(2)	Mr. Martin L. Fleming Treasurer Holladay-Tyler Printing Corporation P.O. Box 1769 Rockville, Maryland 20852	Whether an Individual Retirement Account (IRA) payroll deduction program would constitute an employee pension benefit plan where the IRAs are with a bank which handles a major portion of the Company's banking, is a principal lender to the Company and will soon lend additional funds through the purchase of Industrial Revenue Bonds (IRBs) for a significant dollar amount.