2011 in Review: ERISA Individual Prohibited Transaction Exemptions


In 2011, the Department of Labor (DOL) continued a fairly active program of issuing individual exemptions from the prohibited transaction rules of ERISA. These rules generally prohibit, among other things:

-Sale and lending transactions between (i) certain retirement and other plans specified in ERISA and/or the Internal Revenue Code and (ii) a “party in interest” or “disqualified person” to that plan; and

-Self-dealing or conflicted interests on the part of a plan “fiduciary.”

DOL is, however, authorized to grant a conditional or unconditional exemption for an otherwise prohibited transaction if DOL determines that the exemption is (i) administratively feasible, (ii) in the interests of the plan and of its participants and beneficiaries, and (iii) protective of the rights of plan participants and beneficiaries. (On October 27, 2011, DOL published updated procedures for filing and processing individual prohibited transaction exemptions.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:


Sutherland Asbill & Brennan LLP on:

JD Supra Readers' Choice 2016 Awards
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.