Advisory Opinions

Whether the AICP Health Benefits Fund is an employee welfare benefit plan established and maintained by an employer group or association within the meaning of section 3(5) of ERISA. Also whether the Fund is a "fully insured" multiple employer welfare arrangement within the meaning of ERISA section 3(40) and section 514(b)(6)(A).

Whether employees of The Council of State Governments may participate in the Kentucky Employees Retirement System without adversely affecting the status of KERS as a "governmental plan" within the meaning of section 3(32) of ERISA.

Whether delivery of a Profile (as described in Rule 498 under the Securities Act of 1933) would satisfy the prospectus delivery requirements under ERISA section 404(c) regulations.

Whether the reallocation of employer securities from the account of one plan participating in a master trust to the accounts of other plans participating in the master trust in exchange for interests of those plans in other assets of the same value held in the master trust would constitute an acquisition of employer securities for purposes of section 407(a) of ERISA.

Whether a trust company’s receipt of 12b-1 and subtransfer fees from mutual funds, the investment advisers of which are affiliates of the trust company, for services in connection with investment by employee benefit plans in the mutual funds, would violate ERISA when the decision to invest in such funds is made by an employee benefit plan fiduciary or participant who is independent of the trust company and its affiliates.

Request for guidance as to the disposition of surplus assets on the termination of the Trust. Specifically, whether, after all outstanding claims for benefits have been satisfied and all surplus attributable to participant contributions has been used for the provision of benefits, the remaining surplus assets may be transferred to a charitable foundation that is not a party in interest in accordance with the terms of the trust document.

Request for guidance concerning section V(h) of PTE 84-14 which permits certain transactions between a party in interest with respect to an employee benefit plan and an investment fund in which the plan has an interest and which is managed by a QPAM, provided that the other conditions of the exemption are satisfied.

Regarding the applicability of Title I of ERISA. Specifically, whether the Labor Management Construction Safety Alliance, Inc. (LMCSA) is an "employee welfare benefit plan" within the meaning of section 3(1) of Title I of ERISA.

Whether under ERISA Church is entitled to retain the demutualization award paid to Church by Principal for a group annuity contract that was purchased in connection with the termination of a retirement plan that had been established and maintained by Church.

Regarding the application of ERISA to an employer’s amendment of its plan to eliminate life insurance benefits for certain retirees and the amendment of its defined benefit pension plan to add similar benefits for those retirees, and the implementation of those amendments. Specifically whether the amendments, along with their implementation, would not violate the anti-inurement, exclusive benefit and prohibited transaction provisions under ERISA.