Federal Register Notice: Prohibited Transaction Exemption 85-68

This document is about a class exemption granted by the Department of Labor that allows employee benefit plans to purchase and hold customer notes of employers. The exemption provides relief from certain prohibited transaction restrictions under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code. The document outlines the conditions and requirements for plans to rely on this exemption, including independent fiduciary oversight, limitations on the amount of plan assets that can be invested in customer notes, and employer guarantees for repayment of delinquent notes.