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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**1981**
AO/ Date/ Reference	Recipient	Description of Request
1981-72A 09/16/1981 404(a)(1) 406(b)(3) 408(b)(4)	Mr. Edward K. Mosenthal Berle & Berle 122 East 42nd St. New York, N.Y. 10168	Whether the early redemption of time deposits by Savings Bank Trust Company (SBT) as trustee of certain employee benefit plans would be a violation of section 406(b)(3) of ERISA.
1981-71A 09/11/1981 3(1)	Mr. William F. Gleason, Jr. Vice President, Secretary and Counsel The Continental Corporation 80 Maiden Lane New York, New York 10038	Whether the program of salary continuance constitutes a mere payroll practice within the meaning of 29 C.F.R. §2510.3-1(b)(2) rather than an employee welfare benefit plan described in ERISA section 3(1) and, thus, is excluded from coverage by title I of ERISA.
1981-70A 09/09/1981 514	Mr. Jon Michael Grogan Mayer, Brown & Platt 231 South LaSalle Street Chicago, Illinois 60604	Whether the State of Illinois general interest rate laws are preempted under ERISA section 514.
1981-69A 07/28/1981	Ms. Kathleen K.O. Conahan Conahan & Conahan Suite 1500 745 Fort Street Honolulu, Hawaii 96813	Whether the contribution by an employer of an option to a defined benefit plan does not violate section 4975 of the Internal Revenue Code.
1981-68A 08/13/1981 104	Lawrence J. Hass, Esquire Groom and Nordberg Suite 450 1775 Pennsylvania Avenue, NW Washington, D.C. 20006	Whether the WCT Plan may distribute certain plan materials by third-class mail without a guarantee of return and forwarding postage and comply with Section 2520.104b-1(b)(1) or ERISA concerning the manner in which materials are distributed to participants and beneficiaries.
1981-67A 08/10/1981 407(d)(3)	Mr. Hiram Knott Olwine, Connelly, Chase, O'Donnell & Weyher 299 Park Avenue New York, N.Y. 10171	Whether a money purchase plan which constitutes part of an employee stock ownership plan (ESOP) is an eligible individual account plan for purposes of section 407(b)(1) of the Employee Retirement Income Security Act of 1974 (the Act).
1981-66A 08/10/1981 3(14)	Mr. Richard A. Naegele Wickens, Herzer & Panza Co., L.P.A. 1144 West Erie Avenue Lorain, Ohio 44052	Whether the proposed loan by the Plan to the Lakeland Medical Center, Inc. (the Medical Center) raises issues under Part 4 of Title I of the Employee Retirement Income Security Act of 1974 (the Act) and section 4975 of the Internal Revenue Code of 1954 (the Code).
1981-65A 08/03/1981 3(2)	Mr. Alexander Welch Lynch & Welch 31 St. James Avenue Boston, Massachusetts 02116	Whether the Escrow Account is not an employee pension benefit plan within the meaning of section 3(2) of ERISA and is not an employee benefit plan within the meaning of section 3(3) of ERISA, it is not subject to title I of ERISA.
1981-64A 07/24/1981 3(16) 3(32) 4(b)(1)	Carroll J. Savage, Esq. Ivins, Phillips & Barker 1700 Pennsylvania Avenue, N.W. Washington, D.C. 20006	Whether the reporting and disclosure requirements of Part 1 of title I of the Employee Retirement Income Security Act of 1974 (ERISA) apply to the Public Service Electric and Gas Company (PSE & G).
1981-63A 07/24/1981 3(1) 514	Ms. Katherine D. Woodruff Vice President, Legal Counsel Beacon Insurance Company P.O. Box 633 Wilkesboro, North Carolina 28697	Whether the plans of seven Holiday Inns funded by a trust created by each of the Holiday Inns are employee welfare benefit plans within the meaning of section 3(1) of ERISA. Second, whether section 514 of ERISA preempts the procedural requirements of the Florida Department of Insurance (Insurance Department) which calls for a predetermination by the Department of Labor (the Department) that an employee benefit plan is subject to ERISA.