![]() ![]() Under this rule, unless an exception applies, investments in the fund made by certain retirement plans will cause an allocable portion. Many private equity funds that solicit subscriptions from so-called benefit plan investors (i.e., investments for the assets of a retirement plan governed by ERISA's and the Internal Revenue Code's prohibited transaction rules are structured to qualify for one or more of the exceptions to the look-through rule for plan assets under 29 C.F.R. The PPM (also called an offering memorandum) is the document that describes the offering and discloses its structure as well as the risks involved in investing. These requirements obligate a fiduciary to recover. ERISA fiduciaries must prudently carry out their plan duties for the exclusive purpose of providing benefits to participants and their beneficiaries and defraying the plan’s reasonable administrative expenses ( 29 USC § 1104 (a) (1) ). This template includes practical guidance, drafting notes, and optional clauses. Cross-plan offsetting raises important fiduciary issues. Lookthrough issueserisa The list can be endless of items you may normally leave with a sale but the buyer wants them gone. Use these clauses in a private placement memorandum (PPM) for a private equity fund to address issues arising due to the regulation of retirement plan investments under the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code, and other laws. ERISA is a complex law that uses somewhat ambiguous language to set up what is, essentially, a skeletal regulatory system for employer-sponsored health plans. ![]()
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