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Things I Worry About (13): Every Plan Commits Prohibited Transactions and the Cornell University Decision - Fred Reish
Summary by Fred Reish
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Things I Worry About (13): Every Plan Commits Prohibited Transactions and the Cornell University Decision - Fred Reish
Key Takeaways When an ERISA governed retirement plan engages and pays service providers, such as advisors and recordkeepers, it commits a prohibited transaction. However, if the plan fiduciaries satisfy the conditions of an exemption (which, in this case, would be the 408(b)(2) statutory exemption), the prohibited transaction is exempt, that is, it becomes permissible. If … Continue reading Things I Worry About (13): Every Plan Commits Prohibite…
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