Class Exemption Involving Transfer of Individual Life Insurance Contracts and Annuities From Employee Benefit Plans to Plan Participants, Certain Beneficiaries of Plan Participants, and Other Employee Benefit Plans

This document is about a class exemption granted by the Department of Labor and Internal Revenue Service that enables employee benefit plans to sell individual life insurance contracts and annuities to plan participants, their relatives, employers, and other employee benefit plans. The exemption provides specific conditions and safeguards for these transactions to avoid prohibited transactions under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code.