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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**1989**
AO/ Date/ Reference	Recipient	Description of Request
1989-05A 04/05/1989	Mr. Michael P. Sjogren Mr. Lawrence J. Shulman Seward & Kissel Wall Street Plaza New York, New York 10005	Whether any of the transactions as described that occur subsequent to the formation of the partnership would constitute an “acquisition” of an equity interest within the meaning of regulation section 2510.3-101(f)(1) and would trigger a determination of significant equity participation by benefit plan investors.
1989-04A 03/30/1989	Ms. Marjorie A. Dolan Assistant Counsel John Hancock Mutual Life Insurance Company P.O. Box 111 Boston, MA 02117	Whether the fiduciary responsibility provisions of the Employee Retirement Income Security Act of 1974 (ERISA) would apply to proposed investments by employee benefit plans in Energy Investors Fund (EIF), a limited partnership or would the plan’s assets include only the limited partnership interest in EIF but not any of the underlying assets of the partnership.
1989-03A 03/23/1989	Ms. Maria Stefanis Arthur Young 3000 K Street, NW Washington DC 20007	Whether a purchase of stock by an Individual Retirement Account (IRA) from a corporation would violate section 4975(c)(1)(A) of the Internal Revenue Code of 1986.
1989-02A 03/21/1989 514	Mr. Rodney A. Currin Ward and Smith, P.A. 1001 College Court P.O. Box 867 New Bern, North Carolina 28560	Whether the denial of a claim for an in-service hardship distribution under the terms of the First Citizens Bank & Trust Company Accumulation Plan be subject to the claims procedures requirements of section 503 of ERISA.
1989-01A 02/10/1989 514	Mr. J. Stephen Mikita Office of the Attorney General State of Utah 236 State Capitol Salt Lake City, Utah 84114	Whether the proposed provisions of Utah Code Ann. §58-17-26 (the proposed Utah Act) are preempted under the general preemption provision of section 514(a) of title I of ERISA if it is applies, directly or indirectly, to employee benefit plans covered by title I of ERISA, and does not qualify for the exception established in section 514(b)(8) of ERISA.

**1988**
AO/ Date/ Reference	Recipient	Description of Request
1988-18A 12/23/1988 4975	Mr. Joseph B. Hurst, Jr. Friday, Eldredge & Clark 2000 First Commercial Building Little Rock, AR 72201	Whether a $500.000 loan from an Individual Retirement Account (IRA) established by Thomas E. Darragh, a current employee, shareholder, and member of the Board of Directors, to Darragh Company would violate section 4975(c)(1)(B) of the Internal Revenue Code of 1986.
1988-17A 12/09/1988	Mr. Edwin J. Guillot, Jr. McConnell Valdes Kelley Sifre Griggs & Ruiz-Suria G.P.O. Box 4225 San Juan, Puerto Rico 00936	Whether Section 5 of Puerto Rico Act No. 17 of April 17, 1931 is preempted under the preemption provisions of section 514 of title I of ERISA insofar as Section 5 limits or prohibits payroll deductions for the purpose of funding the Employees’ Profit Sharing Plan of The First Boston Corporation, for the benefit of their employees performing services in the Commonwealth of Puerto Rico.
1988-16A 12/19/1988 403( c) 404(a)(1)	Mr. Gregory Ridella Chrysler Corporation P.O. Box 1919 Detroit, MI 48288	Whether a certain understanding contained in a Letter Agreement between the Chrysler Corporation and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America, with respect to Chrysler's Pension Fund does not violate the fiduciary responsibility provisions of ERISA. The Letter Agreement is substantially similar to one entered into in 1979 by Chrysler and the UAW.
1988-15A 12/05/1988 3(32) 4(b)(1)	Mr. Timothy A. Bush Sirote, Permutt, McDermott, Slepian, Friend, Friedman, Held & Apolinsky, P.C. 2222 Arlington Avenue South Post Office Box 55727 Birmingham, Alabama 35255	Whether the Shelby County Hospital Board Defined Benefit Pension Plan of the Shelby Medical Center is a governmental plan within the meaning of section 3(32) of title I of ERISA and thus excepted from ERISA title I requirements pursuant to section 4(b)(1) of ERISA.
1988-14A 09/28/1988 403(c )(1) 404(a)	Linda G. O'Brien, Esq. Xerox Corporation P.O. Box 1600 Stamford, Connecticut 06904	Whether a proposed merger of the Xerox Corporation’s Long-Term Disability Income Plan and Medical Care Plan would violate sections 403(c)(1), 404(a), 406(a)(1)(D), and 406(b)(2) of the Employee Retirement Income Security Act of 1974 ("ERISA").