The U.S Department of Labor's Employee Benefits Security Administration has unveiled a final amendment to a prohibited transaction exemption that broadens the transactions allowed for employee benefit plans whose assets are managed by in-house asset managers.
PTE 96-23, a class exemption under the Employee Retirement Income Security Act, also imposes conditions to protect plans and their assets. The exemption allows in-house managers of large employee benefit plans to engage in a wide range of transactions with related parties.
The final amendment to PTE 96-23 includes four parts:
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Dig Deeper
Trending Stories
Events
- ConsultingConsulting Leaders in Technology 2024May 16, 2024 - DallasConsulting Magazine recognizes leaders in technology across three categories Leadership, Client Service and Innovation.More Information
- ConsultingConsulting Top Consultants 2024June 27, 2024 - New YorkConsulting Magazine identifies consultants that have the biggest impact on their clients, firms and the profession.More Information
- Real EstateGlobeSt. Women of Influence (WOI) 2024July 22, 2024 - Lake TahoeGlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.More Information
