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.
AO/ Date/ Reference | Recipient | Description of Request |
---|---|---|
06/24/1983
414 |
Douglas O. Kant |
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. |
06/23/1983
3(1) 3(2) |
Mr. W.W. Hancock, Jr. |
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. |
06/21/1983
3(1) |
Mr. David J. Bright |
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. |
06/21/1983
103(a)(3) |
Mr. David J. Cartano |
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. |
06/20/1983
103(a)(3) |
Ms. Doris Bowling |
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. |
06/13/1983
406(b)(1) 408(b)(2) |
Edwin H. Perry, Esquire |
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). |
06/09/1983
3(1) |
Mr. P. Bruce Wright |
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. |
06/08/1983
4(b) |
Mr. George H. Lanier |
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. |
05/26/1983
402(a) 403(a) 405 |
Frederick C. Kneip, Esq. |
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. |
05/24/1983
3(2) |
Mr. Martin L. Fleming |
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. |