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ERISA Outline Book Index

PAID TIME OFF (PTO) PLANS, see PTO PLANS

PAPERLESS TRANSACTIONS

* Electronic media used in plan administration, see PLAN ADMINISTRATION

PART-TIME EMPLOYEES, EXCLUSION OF, see ELIGIBILITY RULES

PARTIAL TERMINATION, see VESTING RULES

PARTICIPANT

* Active participant rule for IRAs, (Ch1B/Def-Participant/PtB)

- Defined contribution plan, (Ch8/SecIII/PtD.1.)

- Defined benefit plan, (Ch8/SecIII/PtD.2.)

- Earnings on account not considered, (Ch1B/Def-Participant/PtB.1.d.)

- Married couples, (Ch12/SecIX/PtA.2.a.)

- Noncalendar year plans, (Ch1B/Def-Participant/PtB.1.b.)

- Plan might use "active participant" term differently, (Ch1b/Def-Participant/PtD)

- Section 403(b) plans: participation in plan results in active participant status, (Ch1B/Def-Participant/PtB.1.g.)

- Section 457 plans: participation in does not result in active participant status, (Ch1B/Def-Participant/PtB.1.h.)

- SEPs and SIMPLE-IRA plans: participation in these plans results in active participant status under IRA deduction rules, (Ch1B/Def-Participant/PtB.1.f.)

- Special rule where employer contributions are discretionary, (Ch1B/Def-Participant/PtB.1.a.)

* Contributions to plan made by participant, (Ch1A/Def-EmployeeContributions)

* Definition of participant, (Ch1B/Def-Participant)

- Participant in employee pension benefit plan, (Ch1B/Def-Participant/PtA.1.)

- Participant in employee welfare benefit plan, (Ch1B/Def-Participant/PtA.2.)

* ERISA definition of participant, (Ch1B/Def-Participant/PtA)

* Limited participants (right to make rollover contributions before otherwise eligible), (Ch1B/Def-Participant/PtC)

- Coverage issue relating to limited participants, see COVERAGE TESTING

- Nondiscrimination testing issues relating to limited participants, see ADP AND ACP TESTING, NONDISCRIMINATION TESTING

- Participant loans to limited participants, see PARTICIPANT LOANS

* Rollover, right to make, see Limited participants above

* Significance of being a participant, (Ch2/SecVI)

* When an employee becomes a participant, see ELIGIBILITY RULES

PARTICIPANT CONTRIBUTIONS, see EMPLOYEE CONTRIBUTIONS

PARTICIPANT-DIRECTED INVESTMENTS

* Allocation of earnings relating to directed investments, (Ch3A/SecII/PtM.2.)

- Earnings on unallocated contributions, (Ch3A/SecII/PtM.2.e.)

* Blackout periods, (Ch13B/SecII/PtJ.10.)

- Fiduciary responsibility during blackout period, (Ch13B/SecII/PtJ.10.)

- Fiduciary safe harbor: participants deemed to retain control during blackout period, (Ch13B/SecII/PtJ.10.b.)

◆ Affirmative election by participant, (Ch13B/SecII/PtJ.10.b.2)a))

◆ Qualified change in investment options, (Ch13B/SecII/PtJ.10.b.1))

- Notice requirements, (Ch13A/SecVI/PtF.1.)

* Brokerage account option, (Ch13B/SecII/PtJ.2.h.)

* Change of investment options: participant control safe harbor under ERISA §404(c)(4), (Ch13B/SecII/PtJ.2.a.3))(Ch13B/SecII/PtJ.10.b.)

- Blackout periods resulting from change in investment options, see BLACKOUT PERIODS above

* Concealment of material information: consequences to fiduciary, (Ch13B/SecII/PtJ.2.a.1))

* Declining to follow instructions permitted under certain circumstances, (Ch13B/SecII/PtJ.2.f.)

* Default investments

- 404(c) relief might not be available, (Ch13B/SecII/PtJ.4.)

- Conditions for fiduciary relief under ERISA §404(c)(5), (Ch13B/SecII/PtJ.4.b.)

- Employer securities: limited circumstances under which QDIA may hold such investments, (Ch13B/SecII/PtJ.4.b.2)b))

- Fiduciary safe harbor for qualified default investment alternatives (QDIAs), (Ch13B/SecII/PtJ.4.a.)

- Notice requirement, (Ch3A/SecII/PtD.2.e.3)c))

◆ Sample notice issued by IRS (included in sample automatic enrollment notice), (Ch11/AppD)

- Qualified default investment alternative (QDIA): definition, (Ch13B/SecII/PtJ.4.b.2))

◆ Consideration of ESG-themed investment option (FAB 2018-01), (Ch13B/SecII/PtF.9.d.1))

◆ Demographically-averaged QDIA, (Ch13B/SecII/PtJ.4.b.2)a)ii))

◆ Eligible automatic contribution arrangements are not required to satisfy QDIA rules, (Ch3A/SecII/PtD.2.e.3)d)i))

◆ Grandfathered stable value products, (Ch13B/SecII/PtJ.4.b.2)a)v))

◆ Management requirements for QDIAs, (Ch13B/SecII/PtJ.4.b.2)c))

◆ Short-term QDIA for preservation of capital, (Ch13B/SecII/PtJ.4.b.2)a)iv))

◆ Target date QDIA, (Ch13B/SecII/PtJ.4.b.2)a)i))

- Scope of relief under ERISA §404(c)(5), (Ch13B/SecII/PtJ.4.b.4))

- Target date funds as QDIAs, (Ch13B/SecII/PtJ.4.b.2)a)i))

◆ Additional disclosures, (Ch13B/SecII/PtJ.4.b.3)c)iii))

- Transfer rights out of QDIA, (Ch13B/SecII/PtJ.4.b.1)e))

* Disclosure requirements under participant-directed plans/participant fee disclosure requirements, (Ch13B/SecII/PtJ.1.)

- Administrative expenses, (Ch13B/SecII/PtJ.1.b.3))

- Brokerage account option, (Ch13B/SecII/PtJ.2.h.)

◆ May brokerage account be only option for directing investments? (Ch13B/SecII/PtJ.2.h.2))

- Designated investment alternatives (DIAs), (Ch13B/SecII/PtJ.1.b.1))

◆ Brokerage arrangement is not DIA, (Ch13B/SecII/PtJ.1.b.1)a))

◆ Designated investment manager is not a DIA, (Ch13B/SecII/PtJ.1.b.1)b))

◆ Model portfolios generally not DIAs, (Ch13B/SecII/PtJ.1.b.1)d))

- Electronic delivery of fee disclosures

◆ Transition guidance, (Ch13B/SecII/PtJ.1.k.)

- Fees charged in connection with investments, (Ch13B/SecII/PtJ.1.c.)

- Information that must be furnished upon the participant's request, (Ch13B/SecII/PtJ.1.f.)

- Investment-related disclosures, (Ch13B/SecII/PtJ.1.c.)

◆ Automatically-provided investment information, (Ch13B/SecII/PtJ.1.d.)

◆ Benchmarks, (Ch13B/SecII/PtJ.1.d.3))

◆ Comparative format required, (Ch13B/SecII/PtJ.1.d.11))

. . . Model comparative chart published by DOL, (Ch13B/SecII/AppB)

◆ Electronic delivery, (Ch13B/SecII/PtJ.1.k.)

◆ Fee and expense information, (Ch13B/SecII/PtJ.1.d.4))

. . . Unregistered investments, (Ch13B/SecII/PtJ.1.d.4))

◆ Glossary of terms must be provided, (Ch13B/SecII/PtJ.1.d.6))

◆ Internet website must be maintained to provide investment-related information, (Ch13B/SecII/PtJ.1.d.5))

◆ Performance data, (Ch13B/SecII/PtJ.1.d.2))

◆ Target-date funds: additional disclosures, (Ch13B/SecII/PtJ.1.d.9))

- Model portfolios, (Ch13B/SecII/PtJ.1.b.1)d))

- Plan is intended to be a 404(c) plan: such intention must be disclosed to participants, (Ch13B/SecII/PtJ.1.j.1))

- Plan-related information that must be disclosed, (Ch13B/SecII/PtJ.1.b.)

◆ Administrative expenses, (Ch13B/SecII/PtJ.1.b.3))

◆ Designated investment alternatives, (Ch13B/SecII/PtJ.1.b.1))

◆ Individually-charged expenses, (Ch13B/SecII/PtJ.1.b.4))

◆ Timing of disclosures, (Ch13B/SecII/PtJ.1.b.5))

- Prospectuses must be available upon request, (Ch13B/SecII/PtJ.1.f.)

◆ Summary prospectus may satisfy disclosure obligation, (Ch13B/SecII/PtJ.1.f.1))

- Regulations impose general fiduciary disclosure duties with respect to participant-directed plans, (Ch13B/SecII/PtJ.1.a.)

- Section 403(b) plans; exception for certain pre-2009 contracts, (Ch13B/SecII/PtJ.1.a.2)c))

- SPD language created duty to inform participants of changes in investment options, (Ch13B/SecII/PtJ.2.a.1)b))

- Timing of participant-level fee disclosures, (Ch13B/SecII/PtJ.1.b.5))

◆ "At least annually" means at least once in a 14-month period, (Ch13B/SecII/PtJ.1.b.5)a))

- Transition rule for initial participant fee disclosures, (Ch13B/SecII/PtJ.1.b.5)a)i)), (Ch13B/SecII/PtJ.1.b.5)a)i))

◆ Resetting of annual disclosure date in 2013 or 2014 plan year, (Ch13B/SecII/PtJ.1.b.5)a)ii))

* Diversification rights for participants under defined contribution plans investing in publicly-traded employer securities (IRC §401(a)(35), (Ch1A/Def-Government[amp]#8221;PickUp[amp]#8221;Plan/PtC)

* Diversified core investment options required for 404(c) relief, (Ch13B/SecII/PtJ.2.b.)

* Employer securities: limited 404(c) relief, (Ch13B/SecII/PtJ.3.b.)

* ERISA §404(c) relief

- Defense to fiduciary's breach if participant's control caused loss, (Ch13B/SecII/PtJ.5.f.)

- Fee disclosures, see Disclosure requirements under participant-directed plans above

- Liability for imprudent failure to diversify participant's account where plan was not 404(c) compliant, (Ch13B/SecII/PtJ.5.g.4))

- No relief for transactions with plan sponsor, (Ch13B/SecII/PtJ.7.)

- Participant loans: no 404(c) relief, (Ch13B/SecII/PtJ.7.a.)

- Participant must have control over investments in order for fiduciary to have 404(c) relief, (Ch13B/SecII/PtJ.1.)

◆ Change of investments: safe harbor under ERISA §404(c)(4), (Ch13B/SecII/PtJ.2.a.3))

- Prohibited transactions excise tax: no relief under 404(c), (Ch13B/SecII/PtJ.6.)

- Requirements for 404(c) relief, (Ch13B/SecII/PtJ.1.)

- Scope of 404(c) relief, (Ch13B/SecII/PtJ.5.)

* Failure to follow participant's instructions: personal recovery by participant not available, but claim may be brought on behalf of plan, (Ch13B/SecIII/PtC.2.) (LaRue case), (Ch13B/SecIII/PtC.2.) (ERISA §502(a)(3) claim)

* Fee disclosure requirements, see Disclosure requirements under participant-directed plans above

* Fiduciary liability, see ERISA §404(c) relief above

* Frequency of investment instructions, (Ch13B/SecII/PtJ.2.c.)

* Funding policy requirement under ERISA, see FIDUCIARY DUTY

* Improper influence will negate 404(c) relief, (Ch13B/SecII/PtJ.2.e.1))

* Investment education, (Ch13B/SecII/PtJ.8.)

- Investment education does not have to be provided in order to have 404(c) relief, (Ch13B/SecII/PtJ.8.e.)

- Safe harbor types of educational information that are not investment advice, (Ch13B/SecII/PtJ.8.b.)

- When is information investment advice, (Ch13B/SecII/PtJ.8.)

* Legal incompetence of participant will negate 404(c) relief, (Ch13B/SecII/PtJ.2.e.2))

* Merger of plans/transfer of assets, (Ch13B/SecII/PtJ.9.)

- Issues that may create potential fiduciary liability, (Ch13B/SecII/PtJ.9.b.)

- Plan design vs. fiduciary functions, (Ch13B/SecII/PtJ.9.a.)

* Participant fee disclosures, see Disclosure requirements under participant-directed plans above

* Participant must have control over investments in order for fiduciary to have 404(c) relief, (Ch13B/SecII/PtJ.1.)

* Participant loans: no 404(c) relief for, (Ch13B/SecII/PtJ.7.a.)

* Portion of account might be subject to participant direction, (Ch3A/SecII/PtM.2.d.)

* Prohibited transaction rules apply to participant-directed accounts, (Ch14/SecII)

- Advising participants about investments in manner that can increase compensation to fiduciary, (Ch14/SecII/PtE.8.i.)

- Asset allocation services ("SunAmerica letter"), (Ch14/SecII/PtE.8.i.2) 

- Self-dealing issues relating to participant-directed account, (Ch14/SecII/PtE.1.j.)

* QDIA, see default investments above

* QDROs

- "Hold" on participant's right to direct investments, (Ch13B/SecII/PtJ.2.g.)

* Qualified default investment alternative (QDIA), see Default investments

* Right to direct investments is not a protected benefit under IRC §411(d)(6) anti-cutback rule, (Ch3A/SecII/PtM.2.f.)

* Selection of investment educators and advisors is a fiduciary action, (Ch13B/SecII/PtJ.8.c.)

* Suspension of investment direction rights (blackout periods), (Ch13B/SecII/PtJ.10.)

* Written terms required in order to permit participants to direct investments, (Ch3A/SecII/PtM.2.c.)

* Valuation dates for participant-directed accounts, (Ch3A/SecII/PtM.2.b.)

PARTICIPANT LOANS

* $10,000 minimum, see Nontaxable loan limits below

* $50,000 maximum, see Nontaxable loan limits below

* Accounting issues for participant loans held in defined contribution plans, (Ch3A/SecII/PtO)

* Aggregation of plans under §72(p), (Ch7/SecIX/PtB.6.)

* Amortization of loan, see Repayment requirements below

* Antiassignment rule: exception for loans, see ANTIASSIGNMENT RULE

* Bankruptcy

- Jurisdiction of bankruptcy court over participant loans, (Ch3B/SecXI/PtB.3.)

- Nondischargeability of loans, (Ch3B/SecXI/PtB.3.a.1))

* Basis attributable to previously taxed loan

- Accrued interest on defaulted loan does not generate basis because it is not taxable, (Ch7/SecIX/PtE.2.d.1))

◆ Basis is credited if plan taxed the accrued interest, (Ch7/SecIX/PtE.2.d.7))

- Deemed distribution of loan, pursuant to IRC §72(p), does not result in basis, (Ch7/SecIII/PtC.2.a.)

- Loan payments do not generate basis unless made on previously-taxed loan, (Ch7/SecIX/PtD.5.)

* Bona fide loans required in order to apply IRC §72(p) rules, (Ch7/SecIX/PtD.6.)

* Deemed distribution if §72(p) is violated, (Ch7/SecIX/PtD)

- Deemed distribution is not eligible for rollover, (Ch7/SecIX/PtD.1.a.)

- Not an actual distribution for qualification purposes, (Ch7/SecIX/PtD.3.)

- Obligation to repay loan is not affected by deemed distribution for tax purposes, (Ch7/SecIX/PtD.4.)

* Default on loan, (Ch7/SecIX/PtC.4.)

- Accrued interest when there is delay between default and offset, (Ch7/SecIX/PtE.2.d.)

- Cure period may not end later than end of next calendar quarter, (Ch7/SecIX/PtC.4.a.)

- Delay of offset because of distribution restrictions, (Ch7/SecIX/PtD.3.b.3))

- How unpaid amount affects determination of DB accrued benefit, (Ch7/SecIX/PtD.3.d.)

- How unpaid amount affects determination of DC account balance, (Ch7/SecIX/PtD.3.c.)

- Limits on future loans must take into account defaulted loan (including accrued interest), (Ch7/SecIX/PtE.2.d.3))

- Offset, taxation of, see Offsetting accrued benefit below

- Plan loan provisions must identify events that constitute default, (Ch14/SecII/PtB.2.c.)

- Restrictions on loans made to participant who defaulted on prior loan, (Ch7/SecIX/PtC.4.g.)

- Taxation under deemed distribution rules when default occurs, (Ch7/SecIX/PtD)

* Disaster relief

- 2017 hurricanes and California wildfires: loan relief, (Ch7/SecIX/PtB.l.e.)

- Katrina, Rita, Wilma: loan limit and loan repayment relief, (Ch7/SecIX/PtB.1.c.)

- Midwest storms of 2008: loan relief, (Ch7/SecIX/PtB.1.d.)

* Documentary stamp tax on loans, (Ch14/SecII/PtB.2.h.)

* Enforceable agreement required in order to have a bona fide loan, (Ch7/SecIX/PtA.1.)

* Exemption from prohibited transaction rules for certain participant loans, see Prohibited transaction exemption below

* Fiduciary duties relating to loans, see FIDUCIARY DUTY

* Fifty percent of vested balance is general limit under §72(p), (Ch7/SecIX/PtB.1.)

* Final regulations effective January 1, 2002, (Ch7/SecIX/PtA.6.b.)

* Insurance policies: application of IRC §72(p) rules, (Ch7/SecIX/PtA.2.)

- Loans to pay premium, (Ch7/SecIX/PtA.2.a.)

* Interest deduction disallowed on certain loan payments, (Ch7/SecIX/PtF)

* Internal Roth Conversion of outstanding loan balance, (Ch7/SecIV/PtC.1.a.2)i))

* Legally-enforceable agreement required to have bona fide participant loan, (Ch7/SecIX/PtA.1.)

* Leave of absence, suspense of payments during, see Repayment requirements below

* "Limited" participants under Rev. Rul. 96-48 (right to make rollovers before satisfying plan's eligibility requirements) may have loan available, (Ch14/SecII/PtB.2.h.2))

* Limits on amount of loan, see Nontaxable loan limits below

* LLC owners eligible for prohibited transaction exemption for loans, (Ch14/SecII/PtG.2.)

* Merger and acquisition transactions: liability for outstanding loan obligations, (Ch15/SecVII/PtB.3.6.a.3))

* Military service periods: suspension of loan repayments, (Ch7/SecIX/PtC.6.)

* Nondiscriminatory availability of loans, see (Ch3A/SecIII/PtA.1.c.)

* Nontaxable loan limits under §72(p)

- 50% limit, (Ch7/SecIX/PtB.1.)

- $10,000 minimum, (Ch7/SecIX/PtB.1.a.)

- $50,000 maximum, (Ch7/SecIX/PtB.1.), (Ch7/SecIX/PtB.1.)

- Limits on future loans must take into account defaulted loan (including accrued interest) until there is an offset of the defaulted loan, (Ch7/SecIX/PtE.2.d.3))

- More than 2 loans in a 12-month period, (Ch7/SecIX/PtB.3.c.)

- Outstanding balance of all loans considered, (Ch7/SecIX/PtB.2.)

- Plans aggregated, (Ch7/SecIX/PtB.6.)

- Reduction of $50,000 limit for certain prior loans, (Ch7/SecIX/PtB.1.)

- Valuing vested benefit to determine maximum loan limit, (Ch7/SecIX/PtB.2.)

◆ Subsequent changes in value not relevant, (Ch7/SecIX/PtB.4.b.)

◆ Subsequent distributions not relevant, (Ch7/SecIX/PtB.4.c.)

* Offsetting accrued benefit to repay loan, (Ch7/SecIX/PtE)

- Default, (Ch7/SecIX/PtC.4.)

- Delay between default and offset, (Ch7/SecIX/PtE.2.b.)

- Events that may trigger offset, (Ch7/SecIX/PtE.1.)

- Rollover of loan offset portion of distribution, see ROLLOVER RULES

- Tax consequences of offset, (Ch7/SecIX/PtE.3.)

* Outstanding balance of all loans considered under §72(p), (Ch7/SecIX/PtB.2.)

* Participant: definition, (Ch1B/Def-Participant)

- "Limited" participant under Rev. Rul. 96-48 (right to make rollovers before satisfying plan's eligibility requirements) is a participant for loan purposes, (Ch14/SecII/PtB.2.h.2))

* Partners owning more than 10% interest eligible for prohibited transaction exemption for loans, (Ch14/SecII/PtG.3.b.)

* Principal residence loan, see Repayment requirements under IRC §72(p) below

* Prohibited transaction exemption for certain participant loans, (Ch14/SecII/PtB.2.)

- 50% security interest limitation, (Ch14/SecII/PtB.2.e.1))

- Adequate security required, (Ch14/SecII/PtB.2.e.)

- Available on reasonably equivalent basis, (Ch14/SecII/PtB.2.a.)

- Commercially reasonable rate of interest required, (Ch14/SecII/PtB.2.d.)

- Default: plan terms must define, (Ch14/SecII/PtB.2.c.)

- Documentation requirements for participant loan program, (Ch14/SecII/PtB.2.c.)

- Exemption does not apply to employee who is not a participant, (Ch14/SecII/PtB.2.)

- Former employees: may restrict availability to those who are parties-in-interest, (Ch14/SecII/PtB.2.a.2))

- Loan policy may be separate written document cross-referenced in plan, (Ch14/SecII/PtB.2.c.)

- Minimum loan amount up to $1,000 permitted, (Ch14/SecII/PtB.2.a.1))

- Nondiscriminatory loan amount must be available, (Ch14/SecII/PtB.2.b.)

- Owners of S corporations, partnerships, sole proprietorships, LLCs eligible for exemption, (Ch14/SecII/PtG.3.b.)

- Risk of loss: other participants must be protected, (Ch14/SecII/PtB.2.e.3))

- Security interest valid only if loan, at time it is made, does not exceed 50% of vested accrued benefit, (Ch14/SecII/PtB.2.e.1))

- Spousal consent required in order to use accrued benefit as security on participant loan from certain plans, (Ch14/SecII/PtB.2.e.2))

◆ Electronic media for obtaining consent, (Ch14/SecII/PtB.2.e.2)f))

◆ Exception if accrued benefit does not exceed $5,000, (Ch14/SecII/PtB.2.e.2)c))

◆ Plan might require spousal consent even though law does not, (Ch14/SecII/PtB.2.e.2)e))

* Protection of loan feature not required under anti-cutback rule, (Ch6/SecIII/PtD.6.b.1))

- Distribution triggered by default is a protected optional form of benefit, (Ch6/SecIII/PtD.6.b.1)a))

* Questions/issues relating to the implementation of a participant loan program, (Ch7/SecIX)

* Red Flags Rule (Federal Trade Commission)

- General exemption for qualified plan loans treated as directed investments, (Ch7/SecIX/(13))

* Refinancing transactions, see Repayment requirements below

* Regulation Z not applicable to participant loans (effective July 1, 2010), (Ch14/SecII/PtB.2.d.4))

* Repayment requirements under §72(p), (Ch7/SecIX/PtC)

- Default, see Default on loan above

- Entire loan balance taxed if repayment requirements not satisfied, (Ch7/SecIX/PtC.2.)

- Freezing of plan doesn't eliminate obligation to repay, (Ch7/SecIX/PtC.1.e.)

- Home loan exception to 5-year maximum term requirement, (Ch7/SecIX/PtC.3.)

- Level amortization requirement, (Ch7/SecIX/PtC.1.)

◆ Modifications to amortization period, (Ch7/SecIX/PtC.1.a.)

◆ Modifications to payment frequency, (Ch7/SecIX/PtC.1.c.)

◆ Renegotiating the interest rate, (Ch7/SecIX/PtC.1.d.)

- Payroll withholding as mechanism for making loan payments, (Ch7/SecIX/PtC.4.f.)

- Principal residence exception to 5-year maximum term requirement, (Ch7/SecIX/PtC.3.)

◆ Documentation requirements, (Ch7/SecIX/PtC.3.d.)

- Refinancing transactions, (Ch7/SecIX/PtC.1.a.1))

◆ Maximum term for the replacement loan, (Ch7/SecIX/PtBC.1.b.1))

- Suspension for leave of absence permitted, (Ch7/SecIX/PtC.1.)

- Suspension for military service periods permitted, (Ch7/SecIX/PtC.6.)

* Reporting rules with respect to participant loans, (Ch7/SecIX/PtE.3.c.)

- Loan offset of previously-taxed loan under deemed distribution rules is not reported on Form 1099-R, (Ch7/SecIX/PtE.3.c.3))

- Transition rules under §72(p) regulations, (Ch7/SecIX/PtE.3.d.)

* Residential mortgage investment program exception, (Ch7/SecIX/PtG)

- Transition rule for certain programs that have been limited to plan participants, (Ch7/SecIX/PtG.1.a.)

* Rollover rules: application to participant loans, see ROLLOVERS

* S corporation owners eligible for prohibited transaction exemption for loans, (Ch14/SecII/PtG.3.b.)

* Section 415: treatment of loan repayments, see (Ch16/SecII/PtH.6.b.)

* Security interest against benefits, see Prohibited transaction exemption above, see DEATH BENEFITS, J&S RULES

* Servicemembers Civil Relief Act of 2003 may affect interest rate, (Ch7/SecIX/PtC.6.f.)

* Sole proprietor eligible for prohibited transaction exemption for loans, (Ch14/SecII/PtG.3.b.)

* Spousal consent to loan, see Prohibited transaction exemption above

* State law issues, (Ch14/SecII/PtB.2.h.)

* Suspension of repayments for leave of absence, see Repayment requirements above

* Tax issues relating to participant loans

- Accrued interest on defaulted loan is not taxed, (Ch7/SecIX/PtE.2.d.1))

◆ Basis with respect to accrued interest, see Basis above

- Basis generated from certain loan payments, see Basis above

- Consequences if §72(p) dollar limit exceeded, (Ch7/SecIX/PtB.1.)

- Entire loan balance taxed if repayment requirements are not satisfied, (Ch7/SecIX/PtC.2.)

- Treated as actual distribution if loan is not bona fide, (Ch7/SecIX/PtD.6.)

* Truth-in-Lending not applicable, (Ch14/SecII/PtB.2.d.4))

* Valuation of account for §72(p) purposes, see Nontaxable loan limits above

* Withholding rules: application to loan offsets, (Ch7/SecIX/PtE.3.b.)

PARTICIPATING EMPLOYER, see EMPLOYER

PARTY-IN-INTEREST, (Ch14/SecIII/PtA.2.)

PAYMENT OF PLAN EXPENSES BY EMPLOYER, see DEDUCTION LIMITS

PAYMENT OF PLAN EXPENSES WITH PLAN ASSETS, see EXCLUSIVE BENEFIT RULE

PBGC

* Administrative review of PBGC decisions, (Ch13A/SecV/PtL)

* Allocation of assets pursuant to ERISA §4044, (Ch13A/SecVI/PtF.1.)

- IRS may override to prevent discrimination, (Ch13A/SecV/PtF.3.a.)

- Priority categories, (Ch13A/SecV/PtF.3.a.)

- Treatment of rollover contributions held by terminated DB plan, (Ch13A/SecV/PtF.3.e.)

* Cessation of operations: reporting under ERISA §4062(e), see REPORTING REQUIREMENTS

* Disaster relief: deadline extensions, (Ch13A/SecV/PtL)

* Distress termination of plan, (Ch13A/SecV/PtF.2.), (Ch13A/SecV/PtF.2.)

- Allocation of assets (ERISA §4044), (Ch13A/SecVI/PtF.1.)

◆ Treatment of rollover contributions held by terminated DB plan, (Ch13A/SecV/PtF.3.e.)

- Bankruptcy filing date may be substituted for termination date, (Ch13A/SecV/PtF.2.c.3))

- Guaranteed benefits, (Ch13A/SecV/PtF.2.c.)

- Making plan sufficient, (Ch13A/SecV/PtF.2.d.)

- Phase-in of guarantee for first five years of plan or amendment, (Ch13A/SecV/PtF.2.c.1))

◆ 10-year phase-in for majority owners, (Ch13A/SecV/PtF.2.c.2))

- Statutory hybrid plans, (Ch13A/SecV/PtF.4.)

* Early Warning Program, (Ch13A/SecV/PtL)

* Employer liability to PBGC for underfunding of terminated plan, (Ch13A/SecV/PtF.9.)

* ERISA §4010 reporting, see REPORTING REQUIREMENTS

* ERISA §4062(e) reporting event, see REPORTING REQUIREMENTS

* Filing requirements upon plan termination, (Ch13A/SecV/PtL)

*Governance changes, (Ch1B/Def-PensionBenefitGuarantyCorporation/PtA)

* Interest rates to compute lump sums from private-sector plans, (Ch17/SecIII/PtC.5.)

* My PAA, (Ch13A/SecV/PtL)

* Penalty under ERISA §4071 for failure to comply with Title IV notice requirements, see REPORTING REQUIREMENTS

* Plan termination procedures, (Ch13A/SecV/PtL)

- Distress termination, (Ch13A/SecV/PtF.2.)

- Standard termination, (Ch13A/SecVI/PtF.1.)

◆ Noncompliance statement on standard termination, (Ch13A/SecV/PtF.1.f.)

* Premium payments, (Ch13A/SecV/PtB) Also see REPORTING REQUIREMENTS

* Present value of PBGC maximum guaranteed benefits (applies to distribution restrictions under IRC §436), (Ch3B/AppE)

* Reportable events (ERISA §4010), see REPORTING REQUIREMENTS

* Reporting requirements, see REPORTING REQUIREMENTS

* Rules for filings and submissions with the PBGC/computations of time, (Ch13A/AppD)

* Standard termination of plan, (Ch13A/SecVI/PtF.1.)

- Closet-out for final distribution of assets, (Ch13A/SecV/PtF.1.a.)

- Statutory hybrid plans, (Ch13A/SecV/PtF.4.)

- USERRA-covered service, (Ch13A/SecV/PtF.1.d.)

- Value of benefit liabilities, (Ch13A/SecV/PtF.1.b.)

- Weekend/holiday rule does not apply to plan amendments, (Ch13A/SecV/PtF.1.e.)

* Title IV of ERISA: coverage - which plans are subject to Title IV? (Ch13A/SecV/PtA)

* Title IV of ERISA: disclosure requirements, see DISCLOSURE TO PARTICIPANTS AND BENEFICIARIES

* Title IV of ERISA: reporting requirements, see REPORTING REQUIREMENTS

PENALTIES, see EXCISE TAXES AND PENALTIES

PENSION EQUITY PLANS (PEPs), see CASH BALANCE PLANS

PENSION FUNDING EQUITY ACT OF 2004, see PFEA

PENSION PLAN

* Deduction limits for employer contributions, see DEDUCTION LIMITS

* Definitely determinable benefits requirement

* Definition of pension plan, (Ch1B/Def-PensionPlan)

* Non-pension plan defined

* Notice of significant reduction in rate of future benefit accrual (ERISA §204(h)), see AMENDMENT OF PLAN

* Restrictions on distributions, see DISTRIBUTIONS, DEFINED BENEFIT PLAN, MONEY PURCHASE PLAN, TARGET BENEFIT PLAN

PENSION PROTECTION ACT OF 2006 (PPA 2006)

* Document issues

- Plan amendment deadlines, (Ch15/SecIV/PtE/PartFifteen)

- Terminated plans, (Ch1B/Def-Remedial Amendment Period/PtD.5.)

* Effective date table of PPA 2006 provisions, (Ch15/SecIX/PtL)

* References in book to PPA 2006, (Ch15/SecIX/PtK)

* Worker, Retiree, and Employer Recovery Act of 2008 (WRERA): incorporated into Effective Date Table for the PPA 2006 changes, (Ch15/SecIX/PtL)

PENSION RELIEF ACT OF 2010, (Ch1A/Def-EBSA)

PEOs, see LEASED EMPLOYEES

PERFORMANCE OF ACTS, see FILING DATES/DEADLINES FOR PERFORMANCE OF ACTS

PERIODIC BENEFIT STATEMENTS, see DISCLOSURE TO PARTICIPANTS AND BENEFICIARIES

PERMITTED DISPARITY

* Accrual formulas under defined benefit plans, see Permitted disparity benefit formulas under defined benefit plans below

* Annual disparity limit, see Overall use of permitted disparity below

* Average benefits test: imputing permitted disparity to calculate, (Ch8/SecV/PtC.2.d.), (Ch8/SecV/PtC.2.d.)

* Compensation dollar limit

- Plan year compensation used in permitted disparity formula must be limited, (Ch10/SecIII/PtA.2.)

* Covered compensation, (Ch10/SecVI/PtB.2.)

- Adjustment of covered compensation every 6 years, (Ch10/SecVI/PtB.1.a.)

- Is adjustment of covered compensation an amendment subject to the anti-cutback rule? (Ch10/SecVI/PtB.1.a.1))

- Rounded covered compensation table, (Ch10/SecVI/PtB.1.b.)

- Tables, (Ch10/AppA.¶2) (1994), (Ch10/AppA.¶3) (1995), (Ch10/AppA.¶4) (1996), (Ch10/AppA.¶5) (1997), (Ch10/AppA.¶6) (1998), (Ch10/AppA.¶7) (1999), (Ch10/AppA.¶8) (2000), (Ch10/AppA.¶9) (2001), (Ch10/AppA.¶10) (2002), (Ch10/AppA.¶11) (2003), (Ch10/AppA.¶12) (2004), (Ch10/AppA.¶13) (2005), (Ch10/AppA.¶14) (2006), (Ch10/AppA.¶15) (2007), (Ch10/AppA.¶16) (2008), (Ch10/AppA.¶17) (2009), (Ch10/AppA.¶18) (2010), (Ch10/AppA.¶19) (2011), (Ch10/AppA.¶20) (2012), (Ch10/AppA.¶21) (2013), (Ch10/AppA.¶22) (2014), (Ch10/AppA.¶23) (2015), (Ch10/AppA.¶24) (2016), (Ch10/AppA.¶25) (2017), (Ch10/AppA.26) (2018)

* Cross-tested plans: imputing permitted disparity, (Ch10/SecIV/PtC), (Ch10/SecIV/PtC)

* Cumulative disparity limit, see Overall use of permitted disparity below

* Defined benefit plan, sample permitted disparity formulas under, see Permitted disparity benefit formulas under defined benefit plans below

* Defined contribution plan, sample permitted disparity formulas under, see Permitted disparity allocation formulas under defined contribution plans below

* Definition of permitted disparity, (Ch1B/Def-PermittedDisparity)

* Employers that are ineligible to use permitted disparity, (Ch10/SecII/PtC)

* ESOPs may not use permitted disparity, (Ch10/SecII/PtD.2.)

* Excess benefit formula, see Permitted disparity benefit formulas under defined benefit plans below

* Excess compensation under DC plan, (Ch10/SecIII/PtB)

* Final average compensation (used for defined benefit offset formulas under §401(l)), (Ch10/SecVI/PtC.1.)

* Family aggregation in pre-1997 plan years, (Ch10/SecIII/PtA.2.a.)

* Fully-insured defined benefit plans, (Ch10/SecVI/PtF)

* How permitted disparity is used in a plan, (Ch10/SecII)

* Imputing permitted disparity under a defined benefit plan, (Ch10/SecVII)

- Adjusting benefit rates to impute permitted disparity, (Ch10/SecVII/PtB)

- Cross-tested plans may impute permitted disparity, (Ch10/SecIV/PtC)

* Imputing permitted disparity under a defined contribution plan, (Ch10/SecIV)

- Adjusting allocation rates to impute permitted disparity, (Ch10/SecIV/PtB)

- Cross-tested plan may impute permitted disparity, (Ch10/SecIV/PtC)

- Example of imputing permitted disparity, (Ch10/SecIV/PtD)

- Imputing under an excess allocation formula, (Ch10/SecIV/PtA.2.)

- Other plans maintained by employer: imputing issues, (Ch10/SecIV/PtE)

- Target benefit plans, (Ch7/SecXVI/PtH.3.)

* Integration level

- Defined contribution plan, (Ch8/SecIII/PtD.1.)

◆ Floating integration level, (Ch10/SecIII/PtB.1.b.)

◆ Prorating for short periods, (Ch10/SecIII/PtB.2.)

* IRC §401(a)(5), see Section 401(a)(5) integration below

* Maximum disparity allowance for defined benefit plans, (Ch10/SecVI/PtB.2.), (Ch10/SecVI/PtC.3.), (Ch10/SecVI/PtB.2.)

- Adjustments to maximum allowance, (Ch10/SecVI/PtB.2.)

◆ Commencement at age other than social security retirement age, (Ch10/SecVI/PtD.2.)

. . . Benefits commencing before age 55, (Ch10/SecVI/PtD.2.b.)

. . . Tables for ages 55-70, (Ch10/SecVI/PtD.2.a.)

◆ Cumulative adjustments, (Ch10/SecVI/PtD.2.d.)

◆ Integration levels or offset levels: adjustment to maximum disparity allowance in certain cases, (Ch10/SecVI/PtD.2.)

◆ Normal retirement age other than social security retirement age, (Ch10/SecVI/PtD.2.c.)

- Fully insured plans must use 0.8 adjustment factor, (Ch10/SecVI/PtF)

- Maximum excess allowance, (Ch10/SecVI/PtB.2.)

- Maximum offset allowance, (Ch10/SecVI/PtC.3.)

* Maximum disparity allowance for defined contribution plans, (Ch10/SecIII/PtC.2.)

* Maximum excess allowance for defined benefit plans, (Ch10/SecVI/PtB.2.)

* Maximum offset allowance for defined benefit plans, (Ch10/SecVI/PtC.3.)

* Money purchase plan: sample permitted disparity formulas, (Ch10/SecIII/PtE)

- Excess formula, (Ch10/SecIII/PtE.1.)

- Incorporation into allocation formula, (Ch10/SecIII/PtF.4.)

- Step-rate formula, (Ch10/SecIII/PtE.2.)

* More than one plan using permitted disparity, see Overall use of permitted disparity below

* Nonintegrated plan: definition, (Ch1B/Def-NonintegratedPlan)

* Normal retirement age under DB plan other than social security retirement age, (Ch10/SecVI/PtD.2.c.)

* OASDI, (Ch10/SecIII/PtC.2.b.)

* Offset benefit formula, see Permitted disparity benefit formulas under defined benefit plans below

* Offset level, (Ch10/SecVI/PtC.2.)

* Overall use of permitted disparity: limitations, (Ch10/SecVIII)

- Annual disparity limit, (Ch10/SecVIII/PtA)

◆ Annual disparity fraction, (Ch10/SecVIII/PtA.1.)

- Cumulative disparity limit, (Ch10/SecVIII/PtB)

* Permitted disparity allocation formulas for defined contribution plans, (Ch10/SecIII)

- Base contribution percentage, (Ch10/SecIII/PtC.1.b.)

- Design-based safe harbor for §401(a)(4) purposes, (Ch10/SecIII/PtA)

- Excess compensation, (Ch10/SecIII/PtB)

- Excess contribution percentage, (Ch10/SecIII/PtC.1.a.)

- Integration level, (Ch8/SecIII/PtD.1.)

◆ Floating integration level, (Ch10/SecIII/PtB.1.b.)

◆ Plan year in which plan terminates, (Ch10/SecIII/PtB.2.d.)

◆ Prorating for short periods, (Ch10/SecIII/PtB.2.)

- Maximum disparity allowance, (Ch10/SecIII/PtC.2.)

- Money purchase plan: sample permitted disparity formulas, (Ch10/SecIII/PtE)

◆ Excess formula, (Ch10/SecIII/PtE.1.)

◆ Incorporation into allocation formula, (Ch10/SecIII/PtF.4.)

◆ Step-rate formula, (Ch10/SecIII/PtE.2.)

- OASDI rate not applicable, (Ch10/SecIII/PtC.2.b.)

- Plan year compensation, see (Ch3A/SecIII/PtA.1.c.)

- Profit sharing plan: sample permitted disparity formulas, (Ch10/SecIII/PtF)

◆ Four-step formula, (Ch10/SecIII/PtF.3.)

◆ Three-step formula, (Ch10/SecIII/PtF.2.)

◆ Two-step formula, (Ch10/SecIII/PtF.1.)

- Section 414(s) compensation must be used, (Ch10/SecIII/PtA.1.) Also see COMPENSATION(Section 414(s) compensation)

- Target benefit plan, (Ch10/SecV/PtA)

* Permitted disparity benefit formulas for defined benefit plans, (Ch10/SecVI)

- Accrual formula requirements, (Ch10/SecVI/PtE)

◆ 133-1/3% accrual method, (Ch3A/SecIII/PtB.2.)

◆ Fractional rule plans, (Ch10/SecVI/PtE.2.)

. . . Deemed uniformity, (Ch10/SecVI/PtE.2.a.)

. . . Disparity for at least 35 years, (Ch10/SecVI/PtC.2.a.1))

. . . Disparity for fewer than 35 years, (Ch10/SecVI/PtC.2.a.2))

- Accumulation plans, (Ch10/SecVI/PtG)

- Adjustments to disparity allowance for integration or offset levels, and commencement ages, see Maximum disparity allowance for defined benefit plans above

- Base benefit percentage, (Ch10/SecVI/PtB.2.c.)

- Covered compensation, see Covered compensation above

- Design-based safe harbor under §401(a)(4), (Ch10/SecVI)

- Excess benefit formulas, (Ch10/SecVI/PtB)

◆ Base benefit percentage, (Ch10/SecVI/PtB.2.c.)

◆ Covered compensation, (Ch10/SecVI/PtB.2.)

◆ Excess benefit percentage, (Ch10/SecVI/PtB.2.)

◆ Maximum excess allowance, (Ch10/SecVI/PtB.2.)

◆ Sample formulas, (Ch10/SecVI/PtB.3.)

- Excess benefit percentage, (Ch10/SecVI/PtB.2.)

- Final average compensation (offset plans), (Ch10/SecVI/PtC.1.)

- Fully-insured plans, (Ch10/SecVI/PtF)

- Gross benefit percentage (offset plans), (Ch10/SecVI/PtC.3.c.)

- Maximum excess allowance, (Ch10/SecVI/PtB.2.)

- Maximum offset allowance, (Ch10/SecVI/PtC.3.)

- Normal form of benefit, (Ch10/SecVI/PtD.3.)

- Normal retirement age other than social security retirement age, (Ch10/SecVI/PtC.2.c.)

- Offset benefit formulas, (Ch10/SecVI/PtC)

◆ Final average compensation, (Ch10/SecVI/PtC.1.)

◆ Gross benefit percentage, (Ch10/SecVI/PtC.3.c.)

◆ Maximum offset allowance, (Ch10/SecVI/PtC.3.)

◆ Offset level, (Ch10/SecVI/PtC.2.)

◆ PIA: definition, (Ch10/SecVI/PtC.4.a.)

◆ PIA offset safe harbor, (Ch10/SecVI/PtC.4.)

◆ Sample formulas, (Ch10/SecVI/PtB.3.)

- Optional forms of benefit must satisfy disparity allowance requirements, (Ch10/SecVI/PtD.3.)

* PIA offset

- Definition of PIA, (Ch10/SecVI/PtC.4.a.)

- Non-safe-harbor formula, (Ch10/SecVI/PtC.4.b.)

- Safe harbor formula, (Ch10/SecVI/PtC.4.)

* Profit sharing plan: sample permitted disparity formulas, (Ch10/SecIII/PtF)

- Four-step formula, (Ch10/SecIII/PtF.3.)

- Three-step formula, (Ch10/SecIII/PtF.2.)

- Two-step formula, (Ch10/SecIII/PtF.1.)

* Safe harbor formulas, see Permitted disparity allocation formulas and Permitted disparity benefit formulas above

* Section 401(a)(5) integration, (Ch10/SecVIII/PtD)

* Section 401(k) plans: permitted disparity cannot be used for 401(k) portion of plan, (Ch10/SecII/PtD.1.)

* Section 401(m) plans: permitted disparity cannot be used for 401(m) portion of plan, (Ch10/SecII/PtD.1.)

* Self-employed individuals may be subject to permitted disparity formula, (Ch10/SecII/PtE)

* Short plan year: integration level under DC plan must be prorated, (Ch10/SecIII/PtB.2.)

- Initial short plan year for new plan, (Ch10/SecIII/PtB.2.c.)

- No proration for short period of participation in a 12-month plan year, (Ch10/SecIII/PtB.2.b.)

- Plan year in which plan terminates, (Ch10/SecIII/PtB.2.d.)

* Tables of adjustment factors for commencement ages other than social security retirement age, (Ch10/SecVI/PtD.2.c.)

* Target benefit plan

- Imputing permitted disparity, (Ch10/SecV/PtB)

- Safe harbor permitted disparity formula, (Ch10/SecIII/PtA)

* Taxable wage base, (Ch8/SecIII/PtD.1.)

- Table of taxable wage bases, (Ch10/AppA.2)

* Termination of plan

- Effect of termination before end of plan year on requirement to prorate integration level for short plan years, (Ch10/SecIII/PtB.2.d.)

* Why permitted disparity is nondiscriminatory, (Ch10/SecIII/PtD)

PHASED RETIREMENT

* Proposed regulations allowing for phased retirement benefits under pension plan prior to normal retirement age, (Ch6/SecIV/PtC.1.d.)

PIA OR PIA OFFSET, see PERMITTED DISPARITY

PICK UP PLANS UNDER IRC §414(h), see GOVERNMENTAL PLANS

PIERCING CORPORATE VEIL, see ENFORCEMENT OF ERISA

PLAN

* Administration of plan, see PLAN ADMINISTRATION

* Amendment of plan document, see AMENDMENT OF PLAN

* Categorizing plans, (Ch15/SecIV/PtA)

* Communication to employee of plan's adoption, (Ch13A/SecVI/PtF.1.)

* Defined benefit plan, (Ch1A/Def-DefinedBenefitPlan)

* Design checklist for qualified plans, (Ch15/SecIV/PtB)

- "Red flags" for plan design, (Ch15/SecIV/PtI)

* Document required under ERISA, (Ch13B/SecII/PtC.1.)

- Duty to follow governing documents, see FIDUCIARY DUTY

- Verification of existence of plan document, (Ch1B/Def-RemedialAmendmentPeriod/PtH)

* Employee benefit plan, see (Ch1A/Def-EmployeeBenefitPlan)

* Employee pension benefit plan, (Ch1A/Def-EmployeeBenefitPlan)

* Employee stock ownership plan, (Ch6/SecIII/PtD.2.k.)

* Employee welfare benefit plan, (Ch1A/Def-EmployeeBenefitPlan)

* Establishment of plan

- By end of tax year for deduction to be available for that year, (Ch7/SecXVI/PtE.5.)

- Related group member, (Ch7/SecXVI/PtK.1.f.)

* Funding policy: plan must have procedure for establishing such policy, (Ch13B/SecII/PtC.5.)

* Governing documents: duty to follow, see FIDUCIARY DUTY

* Individually-designed plan: definition, (Ch1A/Def-IndividuallyDesignedPlan)

* Keogh plan, see SELF-EMPLOYED INDIVIDUALS

* Master/prototype plan (M&P plan), see APPROVAL PROCESS

* Money purchase plan, see MONEY PURCHASE PLAN

* Multiemployer plan, see COLLECTIVELY-BARGAINED PLANS

* Multiple employer plan, see MULTIPLE EMPLOYER PLAN

* Named fiduciary must be identified in plan, (Ch13B/SecII/PtA.5.), (Ch13B/SecII/PtA.5.)

* Orphan plan, (Ch1B/Def-OrphanPlan), (Ch1B/Def-OrphanPlan)

* Party to lawsuit

- Liability of plan for damages, (Ch13B/SecIV/PtB.3.b.)

- Plan may be sued or bring suit, (Ch13B/SecIV/PtB.3.)

* Payment of benefits must be provided for in plan document, (Ch13B/SecII/PtC.4.)

* Pension plan, see (Ch1B/Def-PensionPlan)

* Plan design, see PLAN DESIGN

* Plan document: definition, (Ch1B/Def-PlanDocument)

* Profit sharing plan, (Ch1B/Def-ProfitSharingPlan)

* Prototype plan, see APPROVAL PROCESS

* QDRO procedures: plan must require establishment of such procedures, (Ch13B/SecII/PtC.9.)

* Qualified plan

- Comparison of qualified arrangements with nonqualified arrangements,

- Comparison with SEPs, (Ch12/SecVIII)

- Definition of qualified plan, (Ch1B/Def-QualifiedPlan)

- Employer-sponsor must be in existence, (Ch1B/Def-OrphanPlan)

- Listing of requirements for qualification, (Ch1B/Def-QualifiedPlan/PtB)

- Qualification requirements not found in Title I of ERISA, (Ch13A/SecVII/PtB.2.)

* " Red flags" for plan design, (Ch15/SecIV/PtI)

* Regional prototype plan, see APPROVAL PROCESS

* Remedial amendment period for amending plan, see AMENDMENT OF PLAN

* Single plan concept when more than one employer participate in a plan, (Ch1A/Def-MultipleEmployerPlan/PtC)

* Stock bonus plan, see STOCK BONUS PLAN

* Target benefit plan, see TARGET BENEFIT PLAN

* Top heavy plan, see TOP HEAVY RULES

* Trust requirement, (Ch1B/Def-Trust)

* Types of plan available to different types of employers, 

* Volume submitter plan, see APPROVAL PROCESS

* Written plan requirement under ERISA, (Ch13B/SecII/PtC.1.)

PLAN ADMINISTRATION

* Accruing benefits under the plan, see ACCRUAL OF BENEFITS

* Checklists

- Audit issues, (Ch15/SecVI/PtF)

- Compensation definitions, (Ch15/SecIV/PtG)

- Coverage and nondiscrimination testing, (Ch15/SecV/PtB)

- Determination letter procedures, (Ch15/SecIII/PtE)

- Electronic media use for participant notices, elections and other communications, (Ch13A/AppE)

- Employer responsibilities relating to plan sponsorship, (Ch15/SecIV/PtE)

- Mergers and spin-offs, (Ch15/SecVII)

- Plan administration issues, (Ch15/SecIV/PtC)

- Plan design checklist, (Ch15/SecIV/PtB)

- Plan termination checklist, (Ch15/SecVIII/PtA) (DC plans), (Ch15/SecVIII/PtA) (DB plans)

- QDROs, (Ch15/SecIV/PtH)

- "Red flags" in plan design, (Ch15/SecIV/PtI)

- Rehired employee issues, (Ch15/SecIV/PtK)

- Reporting and disclosure requirements, (Ch15/SecIV/PtM)

- Sanctions affecting qualified plans, (Ch15/SecIV/PtE)

- Short plan year issues, (Ch15/SecIV/PtE)

- Takeover cases, (Ch15/SecIV/PtL)

- USERRA, (Ch15/SecIV/PtJ)

* Discretionary authority over administration of plan makes one a fiduciary, see FIDUCIARY

* Earnings on account balances: crediting methods, see ACCRUAL OF BENEFITS

* Electronic media used in plan administration

- Consent to distribution, (Ch6/SecIV/PtD.5.)

- Disclosure to participants under Title I of ERISA, (Ch13A/SecVI/PtF.1.)

- Distribution notices, (Ch6/SecIV/PtD.5.)

- Enrollment under 401(k) plans, (Ch3A/SecII/PtD.2.g.)

* Electronic Signatures in Global and National Commerce Act, (Ch6/SecIV/PtD.5.c.)

* Employer responsibilities relating to plan sponsorship, (Ch15/SecIV/PtE)

* Factual determinations by plan administrator, see ENFORCEMENT OF ERISA

* Flowchart for coverage and nondiscrimination testing, (Ch15/SecV/PtA)

* Illiquid assets: distribution issues, see TAXATION OF BENEFITS

* Incorrectly credited benefits: correction methods, see ANTI-CUTBACK RULE

* Interpretation of plan document, see ENFORCEMENT OF ERISA

* Plan administration checklist, (Ch15/SecIV/PtC)

* Plan administrator

- Definition of plan administrator, (Ch1B/Def-PlanAdministrator)

- Fiduciary duties of administrator, see FIDUCIARY DUTY

* Plan assets under Title I: treatment of 401(k) salary deferrals, see SECTION 401(k) PLANS

* Plan expenses: payment by employer, see DEDUCTION LIMITS

* Plan expenses: payment of with plan assets, see EXCLUSIVE BENEFIT RULE

* Plan year

- 52/53 week year permitted, (Ch1B/Def-PlanYear)

- Calendar year required for SIMPLE-401(k) plan, (Ch11/SecXIII/PtD)

- Change of plan year, (Ch1B/Def-PlanYear/PtB)

- Definition of plan year, (Ch1B/Def-PlanYear)

- Form 5308 (approval for change of plan year), (Ch1B/Def-PlanYear/PtB.1.)

- Initial plan year: effect on ADP and ACP testing, (Ch11/SecXII/PtG.1.)

- Newly-formed company, (Ch1B/Def-PlanYear/PtA.1.)

- Short plan year, see Short plan year below

* Short plan year

- ADP testing issues under 401(k) plans, (Ch11/SecXII/PtG.7.)

- Amendment of vesting computation period, (Ch4/SecIV/PtB.5.)

- Audit requirement for plan: exception for short plan year, (Ch13A/SecIII/PtD.5.)

- Compensation dollar limit: application to short plan year, (Ch3B/SecII/PtD), (Ch11/SecVI/PtC.2.d.), (Ch3B/SecII/PtD)

- Coverage testing periods: effect of a short plan year, (Ch8/SecIII/PtC.2.d.)

- Deduction limits: effect of short year, (Ch7/SecXVIV/PtJ)

- Eligibility computation period: short plan year may not serve as eligibility period, (Ch2/SecIII/PtB.2.c.2))

- Excludable employees for eligibility purposes: determination for short plan year, (Ch8/SecIII/PtB.2.f.)

- Final distribution of assets creates short reporting period, (Ch13A/SecIII/PtF.4.)

- Form 5500: due date for short plan year, (Ch13A/SecIII/PtF.4.)

- Highly compensated employee definition: how it is affected by short plan year, (Ch1A/Def-HighlyCompensatedEmployee/PtC.3.)

- Initial plan year as a short period, 1B.28, 4.49, (Ch1B/Def-PlanYear/PtA)(Ch11/SecXII/PtG.7.)

◆ Company not in existence before effective date of plan, (Ch1B/Def-PlanYear/PtA.1.), (Ch1B/Def-PlanYear/PtA.1.)(Ch11/SecXII/PtG.7.j.)

- Integration level under permitted disparity formula: proration for short plan year, (Ch10/SecIII/PtB.2.)

- Key employee determination: effect of short plan year, (Ch1A/Def-KeyEmployee/PtC.3.)

- Minimum funding issues for short plan year, (Ch3B/SecVIII/PtB.1.e.)

- PBGC premiums for short plan year, (Ch13A/SecV/PtB.9.)

- Section 401(k) plan with short plan year, (Ch11/SecXII/PtG.7.)

- Short limitation year: proration of §415 dollar limit for defined contribution plan for, (Ch5/SecII/PtA.3.)

- Termination of plan

◆ Deemed short limitation year for IRC §415 purposes, (Ch5/SecII/PtA.3.c.)

◆ Minimum funding valuation date may need to change, (Ch3B/SecVIII/PtB.1.e.2))

- Top heavy ratio determination, (Ch1B/Def-TopHeavyPlan/PtA.1.b.)

- Vesting computation period: short plan year may not serve as vesting period, (Ch4/SecIV/PtB.5.a.1))

* Trustee duties, see (Ch1B/Def-Trust)

* Valuation issues, see VALUATION

PLAN ADMINISTRATOR, see PLAN ADMINISTRATION

PLAN ASSETS

* 103-12 investment entities

- Special reporting requirements, see FORM 5500 SERIES

- Underlying assets of entity treated as plan assets, see Investment in certain entities below

* Definition of plan assets, (Ch13B/SecII/PtB.1.)

* Elective deferrals under 401(k) plan, treatment as plan assets for Title I purposes, see Participant contributions below

* Employee contributions, see Participant contributions below

* Employer contributions

- When treated as plan assets, (Ch13B/SecII/PtB.1.a.)

* Equity interest in certain investment companies may result in underlying assets of company being treated as plan assets, (Ch13B/SecII/PtB.1.f.)

* Expenses paid with plan assets, see DISCLOSURE TO PARTICIPANTS AND BENEFICIARIES, EXCLUSIVE BENEFIT RULE

* Fees paid with plan assets, see DISCLOSURE TO PARTICIPANTS AND BENEFICIARIES, EXCLUSIVE BENEFIT RULE

* Funding policy, see FIDUCIARY DUTY

* Indicia of ownership of plan assets must be within jurisdiction of U.S. courts, see FIDUCIARY DUTY

* Insurance contracts

- Application of prudence standards to an insurer's assets, (Ch13B/SecII/PtB.1.e.2))

- Insurance company's assets generally not treated as plan assets, (Ch13B/SecII/PtB.1.e.3))

- Policy is a plan asset, (Ch13B/SecII/PtB.1.e.)

- Regulations on when general account assets are treated as plan assets, (Ch13B/SecII/PtB.1.e.3))

- Transition policies that do not cause insurer's general account to be treated as plan assets, (Ch13B/SecII/PtB.1.e.3)a))

* Investment in certain entities

- Entity that is wholly-owned by the plan, (Ch13B/SecII/PtB.1.f.6))

- Exceptions for venture capital operating company or real estate operating company, (Ch13B/SecII/PtB.1.f.3))

- General account of insurance company, (Ch13B/SecII/PtB.1.e.3))

- Joint investments, (Ch13B/SecII/PtB.1.f.8))

- Operating company's assets not treated as plan assets, (Ch13B/SecII/PtB.1.f.1)b))

- Separate account of insurance company, (Ch13B/SecII/PtB.1.f.7))

- Significant ownership by benefit plan investors, (Ch13B/SecII/PtB.1.f.1)a))

◆ Investments by governmental plans or foreign plans disregarded for transactions occurring after August 17, 2006, (Ch13B/SecII/PtB.1.f.1)a))

* Investment of plan assets, (Ch13B/SecII/PtB.1.c.)

* Margins in futures transactions and cleared swap transactions are not plan assets, (Ch13B/SecII/PtB.1.h.)

* Mutual fund

- Refund of fees or other settlement proceeds: allocation issues under DC plans, (Ch3A/SecII/PtM.8.)

- Redemption fees/implementation of Rule 22c-2, (Ch13B/SecII/PtE.4.c.7))

- Revenue-sharing payments: are they plan assets? (Ch13B/SecII/PtB.1.d.2))

- Recommendations with respect to rollovers to IRAs: FINRA guidance, (Ch13B/SecII/PtA.2.h.2))

- Rule 6c-10: proposed limits on ongoing sales charges, (Ch13B/SecII/PtE.4.c.8)b))

- Rule 12b-1 fees

◆ Prohibited transaction issues, see (Ch14/SecIII/PtA.2.)

◆ SEC proposing to eliminate 12b-1 fees, replace with Rule 12b-2 (service and marketing fee), (Ch13B/SecII/PtE.4.c.8))

- Security issued by mutual fund is the plan asset, not the underlying assets of the fund, (Ch13B/SecII/PtB.1.d.)

- Settlement fees paid through independent distribution consultant appointed by SEC, (Ch13B/SecII/PtA.13.)

- Underlying assets of mutual fund are not plan assets, (Ch13B/SecII/PtB.1.d.)

◆ Revenue sharing payments: when do they become plan assets? (Ch13B/SecII/PtB.1.d.2))

◆ Rule applies to target date funds and lifecycle funds as well, (Ch13B/SecII/PtB.1.d.1))

* Participant contributions

- Employer must transmit as soon as possible, (Ch1B/Def-NonelectiveContributions), (Ch3A/SecII/PtD.6.)

- General deadline is earliest reasonable date that assets can be segregated from employer's general assets, (Ch13B/SecII/PtB.1.b.1))

- Maximum deadline generally 15th business day of following month, (Ch13B/SecII/PtB.1.b.1))

- Relief program from DOL for late transmittals to trust, (Ch13B/SecII/PtB.1.b.4))

- Safe harbor deposit period for small plans, (Ch13B/SecII/PtB.1.b.1)a))

- Salary deferrals treated as plan assets on earliest date the employer can reasonably segregate from its general assets, (Ch13B/SecII/PtB.1.b.1))

- SIMPLE-IRA plans: special deposit rule, (Ch13B/SecII/PtB.1.b.1)h))

- VFC program may be used by fiduciary to avoid ERISA §502(l) penalty on failure to remit participant contributions in timely fashion, (Ch13B/SecII/PtB.1.b.4))

- Welfare benefit plans, (Ch13B/SecII/PtB.1.b.1)j))

- When treated as plan assets, (Ch13B/SecII/PtB.1.b.1))

* Revenue-sharing payments, see Mutual fund above

* Rule 12b-1 fees, see Mutual fund above

* Salary deferrals under 401(k) plan, treatment as plan assets for Title I purposes, see Participant contributions above

* Statement of investment policy, see FIDUCIARY DUTY

* Timing of deposit of participant contributions (including 401(k) deferrals), see Participant contributions above

* Trust must hold plan assets, (Ch1B/Def-Trust)

PLAN COVERAGE CHANGES, EFFECT OF ON ADP AND ACP TESTING, see ADP AND ACP TESTING

PLAN DESIGN

* Checklist, (Ch15/SecIV/PtB)

- "Red flags" in plan design, (Ch15/SecIV/PtI)

* Deduction limits: how they affect plan design, see DEDUCTION LIMITS

* Design-based safe harbor plan for §401(a)(4) purposes, see (Ch3A/SecIII/PtA.1.c.)

* Plan document failure results in disqualification, (Ch15/SecVI/PtB.1.a.(1))

* "Red flags" in plan design, (Ch15/SecIV/PtI)

* Section 415 limits: how they affect plan design, (Ch16/SecII/PtH.6.b.)

PLAN DISQUALIFICATION

* Administrative policy regarding self-correction (APRSC), see Self-Correction Program (SCP) below

* Anonymous Submission Procedure, (Ch15/SecVI/PtB.3.f.)

* Audit CAP

- Explanation of Audit CAP, (Ch15/SecVI/PtB.4.)

- Definition of closing agreement program, (Ch15/SecVI/PtB.4.)

- Sanction under Audit CAP, (Ch15/SecVI/PtB.4.a.)

◆ IRS will consider mitigating circumstances, (Ch15/SecVI/PtB.4.a.(4))

* Audit of plan, see AUDIT

* Closing agreement program to resolve qualification defects discovered on audit, see Audit CAP above

* Correction methods under EPCRS, (Ch15/SecVI/PtB.2), (Ch15/SecVI/PtB.6)

- ADP or ACP test not corrected in timely fashion, 

◆ One-to-one correction method, (Ch15/SecVI/PtC.2.b.)

◆ QNEC correction method, 

- Catch-up contributions: failure to provide opportunity to catch-up eligible employee, (Ch15/SecVI/PtC.¶4.b.(3)(b))

- Compensation dollar limit under IRC §401(a)(17) not properly applied, (Ch15/SecVI/PtC.11)

- Compensation errors, (Ch15/SecVI/PtB.6.f.(5))

- Distributions made without necessary consents obtained, (Ch15/SecVI/PtC.6)

- Earnings allocation methods, (Ch15/SecVI/PtB.6.k.)

◆ Special rule for elective deferral failures, (Ch15/SecVI/PtC.¶4.b.(5))

- Elective deferral failures, (Ch15/SecVI/PtC.¶4.b.)

◆ Methods that don't require employer make-up contributions for missed deferral opportunity, (Ch15/SecVI/PtC.¶4.b.(2)(b))

- Employee contributions: missed opportunity, (Ch15/SecVI/PtC.¶4.b.(4))

- Examples of correcting elective deferral failures, (Ch15/SecVI/PtC.¶4.b.(6))

- Excess deferrals under §402(g) not distributed in timely fashion (in contravention of IRC §401(a)(30)), (Ch15/SecVI/PtC.3)

- Exclusion of eligible employee, (Ch15/SecVI/PtC.4)

◆ Exclusion from 401(k) and/or 401(m) arrangement, (Ch15/SecVI/PtC.¶4.b.(2)(a)(i))

. . . Safe harbor 401(k) under IRC §401(k)(12), (Ch15/SecVI/PtC.4.b.(2)(a)(i)(B))

. . . Safe harbor 401(k) under IRC §401(k)(13) (QACA), (Ch15/SecVI/PtC.¶4.b.(2)(a)(i)(C))

◆ Exclusion for 403(b) plan in violation of universal availability requirement, (Ch15/SecVI/PtC.¶4.b.(2)(a)(i)(D))

◆ Exclusion from profit sharing plan, (Ch15/SecVI/PtC.4.,c.,)

◆ Exclusion from SIMPLE-IRA plan, (Ch15/SecVI/PtC.¶4.b.(2)(a)(i)(E))

- Failure to cover eligibile employee, (Ch15/SecVI/PtC.¶4.)

- Failure to implement employee's elective deferral election, (Ch15/SecVI/PtC.¶4.b.(2)(ii))

- Failures that are not addressed in Appendix A or B of the EPCRS Procedure, (Ch15/SecVI/PtB.¶6.f.)

- Forfeitures improperly incurred against participant's account balance, (Ch15/SecVI/PtC.9)

- Hardship withdrawals made without authorizing plan provision, (Ch15/SecVI/PtC.12.b.)

- Inclusion of ineligible employee before employee satisfies age and service requirements, (Ch15/SecVI/PtB.6.f.(3))(Ch15/SecVI/PtC.¶12.c.)

- Matching contributions: correcting lost matching contribution opportunity, (Ch15/SecVI/PtC.4.b.(1)(c))

- Minimum distributions not made in timely fashion, (Ch15/SecVI/PtC.5)

- Misapplication of plan's allocation formula, (Ch15/SecVI/PtB.6.f.(2))

- Overpayments, (Ch15/SecVI/PtC.11)

◆ Overpayments under defined benefit plans, (Ch15/SecVI/PtB.6.d.(4)(a))

◆ Overpayments under defined contribution plans, (Ch15/SecVI/PtB.6.d.(4)(a))

. . . "Make whole" contribution not required for premature distribution, (Ch15/SecVI/PtB.6.d.(4)(a))

- Participant loan failures, (Ch15/SecVI/PtB.¶6.f.(1))

- Plan amendments to correct certain qualification failures, (Ch15/SecVI/PtB.2), (Ch15/SecVI/PtC.12.b.)

- Problem resolution table, (Ch15/SecVI/PtD)

- Section 415 violations

◆ Defined benefit plans, (Ch3B/SecX/PtC)

◆ Defined contribution plans, (Ch3B/SecX/PtB)

- SEPs and SIMPLE-IRA plans, (Ch15/SecVI/PtB.6.l.)

- Specific correction methods prescribed by IRS, (Ch15/SecVI/PtB.6)

- Top heavy minimum not provided, (Ch15/SecVI/PtC.1)

- Unauthorized distributions, (Ch15/SecVI/PtB.6.f.(4))

◆ Overpayment correction rules apply, (Ch15/SecVI/PtB.H6.f.(4)(b)(i))

◆ Tax and recordkeeping issues, (Ch15/SecVI/PtB.H6.f.(4)(b)(iii))

* Coverage violation results in disqualification, see COVERAGE TESTING

* Demographic failures that result in disqualification, (Ch15/SecVI/PtB.1.a.(3))

* Determination letter application: not permitted with a VCP application or in Audit CAP proceedings, (Ch15/SecVI/PtB.7.c.)

* Disqualification or disqualified plan: definition, (Ch1A/Def-Disqualification)

- Disqualifying defects in a plan, (Ch15/SecVI/PtB.1.a.(1))

- Summary of tax consequences of disqualification, (Ch15/SecVI/PtA)

* Egregious violations, (Ch15/SecVI/PtB.3.g.(5))

* Elective deferral failures: new correction methods in Rev. Proc. 2015-28, (Ch15/SecVI/PtC.¶4.b.)

- 25% QNEC method, (Ch15A/SecVI/PtC.¶4.b.(2)(c)(i))

- Automatic enrollment plans: 9 ½-months after close of PY to fix without employer make-up contribution for missed deferrals, (Ch15/SecVI/PtC.¶4.b.(2)(b)(ii))

- Short term failures (3 months), (Ch15/SecVI/PtC.¶4.b.(2)(b)(i))

* Eligibility requirements for EPCRS programs, (Ch15/SecVI/PtB.4.)

- Examination pending renders plan ineligible for certain relief programs, (Ch15/SecVI/PtB.5.e.)

- Favorable letter requirement for SCP, (Ch15/SecVI/PtB.5.c.)

- Self-Correction Program (SCP), (Ch15/SecVI/PtB.5.a.)

◆ Practices and procedures requirement, (Ch15/SecVI/PtB.5.c.)

. . . Applies to 403(b) plans only for post-2009 failures, (Ch15/SecVI/PtB.5.d.(1))

. . . Exception for regular correction of Excess Amounts under IRC §415(c), (Ch15/SecVI/PtB.5.d.(1))

- Summary of eligibility requirements, (Ch15/SecVI/PtB.5.g.)

- VCP submissions, (Ch15/SecVI/PtB.5.a.)

* Employee Plans Compliance Resolution System (EPCRS)

- Audit Closing Agreement Program (Audit CAP), see Audit CAP above

- Correction methods, see Correction methods under EPCRS above

- Definition of EPCRS, (Ch15/SecVI/PtB)

- Eligibility requirements, see Eligibility requirements for EPCRS programs above

- Form 8950 required for VCP submissions, (Ch15/SecVI/PtB.3.b.(1))

- Issues that can't be resolved through EPCRS, (Ch15/SecVI/PtB.1.c.)

- SCP (formerly APRSC), see Self-Correction Program below

- Section 403(b) plans may participate in EPCRS, (Ch15/SecVI/PtE), (Ch16/SecII/PtH.6.b.)

- VCO submission (formerly VCR), see Voluntary Correction Program (VCP) below

- VCP (Voluntary Correction Program) (formerly Walk-in CAP), see Voluntary Correction Program (VCP) below

- VCS submission (formerly Standardized VCR), see Voluntary Correction Program (VCP) below

- VCSEP submission, see Voluntary Correction Program (VCP) below

* EPCRS, see Employee Plans Compliance Resolution System (EPCRS) above

* Examination of plan precludes participation in certain EPCRS programs, (Ch15/SecVI/PtB.5.e.)

* Failure to cover eligible employee, see Correction methods under EPCRS above

* Favorable letter requirement for SCP, (Ch15/SecVI/PtB.5.c.)

* Form 8950 required for VCP submissions, (Ch15/SecVI/PtB.3.b.(1))

* Group Submission procedure, (Ch15/SecVI/PtB.3.e.)

* Inclusion of ineligible employee, see Correction methods under EPCRS above

* IRC §402(b)(4): special tax consequences on HCEs if plan is not qualified due to coverage testing requirements, (Ch16/SecIV/PtF.5.)

* Operational failures that result in disqualification, (Ch15/SecVI/PtB.1.a.(2))

* Plan amendments to correct certain qualification failures, (Ch15/SecVI/PtB.2), (Ch15/SecVI/PtC.12.b.)

* Plan document failures for qualification purposes, (Ch15/SecVI/PtB.1.a.(1))

- Discretionary amendments not adopted on timely basis is not plan document failure, (Ch15/SecVI/PtB.1.a.(1)(c))

- Good faith, interim, nonamender failures, (Ch15/SecVI/PtB.1.a.(1)(b))

- Verification of plan documents, (Ch1B/Def-RemedialAmendmentPeriod/PtH)

* Plan expenses: qualification issues relating to payment by employer of certain expenses, (Ch7/SecXVIV/PtO.3.)

* Pre-Approved Plan sponsors responsible for certain qualification failures may submit under Group Submission procedure, (Ch15/SecVI/PtB.¶3.e.)

* Problem resolution table, (Ch15/SecVI/PtD)

* Prohibited transaction does not cause disqualification of plan, (Ch14/SecII)

* Qualification failures: definition, (Ch15/SecVI/PtB.1.a.(1))

* Remedial amendment period applies to cure plan document defect, (Ch1B/Def-RemedialAmendmentPeriod)

- Not applicable to operational failures, (Ch1B/Def-RemedialAmendmentPeriod/PtG)

* Section 403(b) plans: voluntary correction program for curing qualification failures, see (Ch16/SecII/PtH.6.b.)

* Section 415 violation: ordering rules when employer maintains more than one plan, see (Ch16/SecII/PtH.6.b.)

* Self-Correction Program (SCP) (formerly APRSC)

- ACP test failure by 401(m) arrangement: late correction, see ADP AND ACP TESTING

- ADP test failure under 401(k) plan: late correction, see ADP AND ACP TESTING

- Correction methods, (Ch15/SecVI/PtB.2), (Ch15/SecVI/PtB.6)

- Coverage failures may not be cured under SCP, (Ch8/SecIX/PtC.2.)

- Definition of self-correction program (SCP), (Ch15/SecVI/PtB.2)

- Eligibility requirements for SCP, (Ch15/SecVI/PtB.5.a.)

- Explanation of SCP, (Ch15/SecVI/PtB.2)

- Insignificant violation defined, (Ch15/SecVI/PtB.2.c.)

- Minimum distribution rules, correcting a violation, see MINIMUM DISTRIBUTION RULES

- Practices and procedures requirement, (Ch15/SecVI/PtB.5.c.)

◆ Applies to 403(b) plan only for post-2009 failures, (Ch15/SecVI/PtB.5.d.(1))

- Substantial correction of significant violations within two-year period, (Ch15/SecVI/PtB.2.d.)

- Two-year correction period for significant violations, (Ch15/SecVI/PtB.2.b.)

◆ Special rule for mergers and acquisitions, (Ch15/SecVI/PtB.2.b.(2))

* SEPs: resolving defects through EPCRS, (Ch15/SecVI/PtB.6.l.)

* Service providers responsible for systemic errors may submit for VCP relief under Group Submission procedures, (Ch15/SecVI/PtB.3.e.)

* SIMPLE plans eligible for EPCRS resolution, (Ch15/SecVI/PtB.6.l.)

* Standardized VCR Procedure (SVP) (redesignated as VCS submission), see Voluntary Correction Program (VCP) below

* Tax consequences to employer and employees when plan becomes disqualified, (Ch16/SecIV/PtF.5.) (IRC §402(b)(4) tax consequences), (Ch15/SecVI/PtA)

* Taxation of disqualified trust, see (Ch1B/Def-Trust) 

* Voluntary Closing Agreement program, for pre-approved plan sponsors who missed April 30, 2016, restatement deadline, (Ch1B/Def-RemedialAmendmentPeriod/PtD.2.c.2)c)

* Voluntary Correction Program (VCP), (Ch15/SecVI/PtB.2)

- Anonymous Submission under VCO (formerly known as John Doe submission), (Ch15/SecVI/PtB.3.f.)

- Assembly procedure for VCP application, (Ch15/SecVI/PtB.¶8.a.)

- Available to cure coverage violation, (Ch8/SecIX/PtC.2.)

- Correction methods, (Ch15/SecVI/PtB.2), (Ch15/SecVI/PtB.6)

- Coverage failures must be cured under general VCP procedures, (Ch8/SecIX/PtC.2.)

- Determination letter application not included with VCP application involving plan amendment, (Ch15/SecVI/PtB.7.c.)

- Electronic filing required starting April 1, 2019, (Ch15/SecVI/PtB.¶3.b.(1))

- Eligibility requirements for VCP, (Ch15/SecVI/PtB.5.a.)

- Explanation of VCP, (Ch15/SecVI/PtB.2)

- Form 8950 required for VCP submissions, (Ch15/SecVI/PtB.3.b.(1))

- Group submission, (Ch15/SecVI/PtB.3.e.)

- Model compliance statement, (Ch15/SecVI/PtB.¶3.c.(1))

- Paying VCP sanction with trust assets, (Ch15/SecVI/PtB.2)

- PDF attachment submitted with electronic filings, (Ch15/SecVI/PtB.¶3.b.(4))

- Schedules issued by IRS that may be included with VCP requests, (Ch15/SecVI/PtB.¶3.b.(2))

◆ Correction by plan amendment (Schedule 9), (Ch15/SecVI/PtB.¶3.b.(2)(1))

◆ Employer Eligibility Failure (401(k) and 403(b) plans only) (Schedule 6), (Ch15/SecVI/PtB.¶3.b.(2)(f))

◆ Excess elective deferrals (Schedule 7), (Ch15/SecVI/PtB.¶3.b.(2)(g))

◆ Minimum required distributions not made on a timely basis (Schedule 8), (Ch15/SecVI/PtB.¶3.b.(2)(h))

◆ Nonamender failures (Schedules 1 and 2), (Ch15/SecVI/PtB.¶3.b.(2)(a)&(b)))

◆ Plan loan failures (Schedule 5), (Ch15/SecVI/PtB.¶3.b.(2)(e))

◆ SEPs and SARSEPs (Schedule 3), (Ch15/SecVI/PtB.¶3.b.(2)(c))

◆ SIMPLE-IRA plans (Schedule 4), (Ch15/SecVI/PtB.¶3.b.(2)(d))

- Section 403(b) plans may resolve defects under EPCRS, (Ch16/SecII/PtH.6.b.)

- SEP and SIMPLE-IRA plan submissions, (Ch15/SecVI/PtB.6.l.)

- User fee for VCP submissions, (Ch15/SecVI/PtB.¶3.g.)

* Voluntary Compliance Resolution (VCR) program (redesignated as VCO submission), see Voluntary Correction Program (VCP) above

* Walk-in CAP (redesignated as VCP), see Voluntary Correction Program (VCP) above

* What to do if plan has disqualifying defects, (Ch15/SecVI/PtB.4.)

PLAN DISTRIBUTIONS, see DISTRIBUTIONS

PLAN DOCUMENT, (Ch3A/SecIII/PtA.1.c.)

PLAN ENTRY DATES, see ELIGIBILITY RULES

PLAN EXPENSES: PAYMENT OF, see DEDUCTION LIMITS, EXCLUSIVE BENEFIT RULE

PLAN SPONSOR, see EMPLOYER

PLAN TERMINATION

* Allocation of assets pursuant to ERISA §4044, (Ch13A/SecVI/PtF.1.)

- Treatment of rollover contributions held by terminated DB plan, (Ch13A/SecV/PtF.3.e.)

* Amendments required when plan terminates, see Plan amendments required for plan termination below

* Checklist for plan termination, (Ch15/SecVII)

- Defined benefit plans, (Ch15/SecVIII/PtA)

- Defined contribution plans, (Ch15/SecVIII/PtA)

* Deadline for final distribution of assets, (DC plans), (Ch15/SecVIII/PtA.H4.g.) (DB plans)

* Deduction issues relating to plan termination, see DEDUCTION LIMITS

* Determination letter filing on the plan's termination, (Ch15/SecVIII/PtA.¶3.a.) (DC plans), (Ch15/SecVIII/PtB.¶3.a.) (DB plans)

* Distress termination under Title IV of ERISA, see PBGC

* Distributing plan assets following plan termination, (DC plans), (Ch15/SecVIII/PtA.H4) (DB plans)

* Distribution issues for terminated plans

- Fiduciary safe harbor with respect to automatic rollovers out of terminated plan, (Ch6/SecIV/PtG.5.)

◆ Sample form, (Ch6/SecIV/PtG.6.)

- Notice and consent requirements, (Ch6/SecIV/PtG)

- Orphan DC plans, (Ch6/SecIII/PtA.1.a.)

* Distribution restrictions with respect to HCEs under terminated defined benefit plans, (Ch3A/SecIII/PtA.1.c.)

* Early termination restrictions with respect to HCEs under defined benefit plans, (Ch3A/SecIII/PtA.1.c.)

* Eligible combined plan ("DB-K" plan): termination of, (Ch3A/SecIII/PtB.9.)

* ESOP

- Sale of unallocated shares in suspense account to payoff exempt loan, (Ch5/SecII/PtA.1.e.4))

* Final distribution of assets creates short reporting period for Form 5500 series, see FORM 5500

* Guaranteed benefits under Title IV of ERISA (PBGC), (Ch13A/SecV/PtF.2.c.)

- Treatment of rollover contributions held by terminated DB plan, (Ch13A/SecV/PtF.3.e.)

* Illiquid assets, (Ch15/SecVIII/PtA.4.e.)

* Missing participants and beneficiaries, (Ch6/SecIV/PtG.4.), (DC plans), (Ch15/SecVIII/PtA) (DB plans)

- PBGC may receive benefits of missing participants in terminated defined benefit plan, (Ch13A/SecV/PtF.10.) Also see MISSING PARTICIPANTS AND BENEFICIARIES

* Nondiscrimination requirements relating to plan termination, (Ch3A/SecIII/PtA.1.c.)

* Notice and consent requirements for distributions: exception for certain plan termination distributions, see DISTRIBUTIONS

* Notice to employees of plan termination, (DC plans), (Ch15/SecVIII/PtA.H1.b.) (DB plans)

* Partial termination results in 100% vesting for affected employees, see VESTING RULES

* PBGC reporting and procedural requirements for plan termination, see PBGC, REPORTING REQUIREMENTS

* Permanency issue, (DC plans), (Ch1B/Def-Remedial Amendment Period/PtD.5.) (DB plans)

* Plan amendments required for plan termination, (DC plans), (Ch1B/Def-Remedial Amendment Period/PtD.5.) (DB plans)

- Law changes that have to be reflected in a terminated plan document, (DC plans), (Ch1B/Def-Remedial Amendment Period/PtD.5.) (DB plans)

* Reversion of plan assets to employer, see EXCLUSIVE BENEFIT RULE, REVERSION OF PLAN ASSETS TO EMPLOYER

* Safe harbor 401(k) plan: issues raised by termination of the plan, (Ch11/SecXIV/PtI.7.)

- Safe harbor contribution may be discontinued, but plan will have to default to testing, (Ch11/SecXIV/PtI.7.a.)

- Short plan year resulting from termination: regulations allow for exceptions to 12-month plan year requirement, (Ch11/SecXIV/PtI.2.c.)

* Section 401(k) plan: distribution of deferrals following plan termination, see SECTION 401(k) PLANS

* Section 415 limits: application upon plan termination, (Ch16/SecII/PtH.6.b.)

* Standard termination under Title IV of ERISA, see PBGC

* Successor plan, see ADP AND ACP TESTING, SECTION 401(k) PLANS

* Surplus assets in terminated defined benefit plan, see REVERSION OF PLAN ASSETS TO EMPLOYER, SURPLUS ASSETS

* Suspension of distributions while determination letter application is pending, (Ch6/SecIII/PtD.4.c.)

* Tax issues relating to reversion of plan assets pursuant to plan termination, see REVERSION OF PLAN ASSETS TO EMPLOYER

* Title IV requirements for plan termination, see REPORTING REQUIREMENTS

* Vesting required for affected employees, see VESTING RULES

* When is a plan considered terminated? (Ch4/SecXII/PtA.3.)

PLAN YEAR, see PLAN ADMINISTRATION

PLAN YEAR COMPENSATION, (Ch3A/SecIII/PtA.1.c.)

POINTS ALLOCATION, see ACCRUAL OF BENEFITS

POOLED SEPARATE ACCOUNTS, see FORM 5500 SERIES

POST-SEVERANCE COMPENSATION, see ADP AND ACP TESTING, COMPENSATION

PPA 2006, see PENSION PROTECTION ACT OF 2006

PRACTICE BEFORE THE IRS, see INTERNAL REVENUE SERVICE

PREAPPROVED PLANS, see APPROVAL PROCESS

PREDECESSOR EMPLOYER, see EMPLOYER, SERVICE CREDITING RULES

PREEMPTION, see ENFORCEMENT OF ERISA

PRE-ERISA MONEY PURCHASE PLAN, see SECTION 401(k) PLANS

PREMATURE DISTRIBUTION PENALTY

* Age 55 exception, see Exceptions to penalty below

* Automatic enrollment

- Penalty exception for permissible withdrawals from eligible automatic contribution arrangements, (Ch7/SecV/PtCB.17.)

* Death benefits, exception for, see Exceptions to penalty below

* Definition of premature distribution, (Ch7/SecV)

* Disability payments, exception for, see Exceptions to penalty below

* Education expenses: exception from penalty for withdrawals from IRA, (Ch7/SecV/PtC.13.)

* ESOPs: exception from penalty for dividends distributed to participants, pursuant to IRC §404(k), (Ch7/SecV/PtC.8.a.)

* Exceptions to penalty

- 2016 disasters: penalty relief for qualified distributions, (Ch7/SecV/PtC.20.)

- Age 55 exception, (Ch7/SecV/PtC.2.)

◆ Age 50 rule for certain public safety employees, (Ch7/SecV/PtC.2.d.)

◆ IRAs not eligible for this exception, (Ch7/SecV/PtC.2.c.)

◆ Separation from service must occur after age 55, (Ch7/SecV/PtC.2.)

- California wildfires, (Ch7/SecV/PtC.21.)

- Corrective distributions from section 401(k) and 401(m) plans, (Ch7/SecV/PtC.6.)

- Death benefits, (Ch7/SecV/PtC.5.)

- Disability payments, (Ch7/SecV/PtC.3.)

- Dividends paid on ESOP securities, (Ch7/SecV/PtC.8.a.)

- Education expenses (IRA distributions), (Ch7/SecV/PtC.13.)

- First-time homebuyers (IRA distributions), (Ch7/SecV/PtC.12.)

- Medical expenses, (Ch7/SecV/PtC.4.)

- Midwest storms in 2008: penalty relief for qualified distributions, (Ch7/SecV/PtC.18.)

- Permissible withdrawals under eligible automatic contribution arrangements, (Ch7/SecV/PtCB.17.)

- Phased retirement annuity for Federal workers, (Ch7/SecV/PtC.19)

- P.S. 58 costs, (Ch7/SecV/PtC.7.)

- QDRO payments, (Ch7/SecV/PtC.5.)

- Qualified hurricane distributions, see Hurricanes below

- Qualified reservist distributions, (Ch7/SecV/PtC.16.)

- Roth conversions, (Ch7/SecV/PtC.14.)

◆ Recapture rules for certain distributions within 5 years of conversion, (Ch7/SecV/PtC.14.a.)

- Substantially equal periodic payments, (Ch7/SecV/PtC.3.)

◆ Aggregation of IRAs not required, but permitted, so long as entire balance of each IRA is taken into account, (Ch7/SecV/PtC.1.e.1))

◆ Calculation methods prescribed by IRS, (Ch7/SecV/PtC.1.a.)

◆ Divorce: participant's spouse's IRA not required to continue portion of substantially equal payments, (Ch7/SecV/PtC.1.d.31))

◆ Interest rate safe harbor for computing amortization or annuity payments, (Ch7/SecV/PtC.1.a.4))

◆ IRAs not aggregated to compute substantially equal payments, (Ch7/SecV/PtC.1.e.1))

◆ IRAs: separation from service not required to use this exception, (Ch7/SecV/PtC.1.b.)

◆ Make-up penalties required if payments modified or revoked before minimum term, (Ch7/SecV/PtC.1.d.)

◆ Methods for computing substantially equal payments, (Ch7/SecV/PtC.1.a.)

◆ Minimum payment period, (Ch7/SecV/PtC.1.d.)

◆ Same desk rule applies to separation from service, (Ch7/SecV/PtC.1.b.)

◆ Separation from service required, (Ch7/SecV/PtC.1.b.)

◆ Social security supplements disregarded, (Ch7/SecV/PtC.1.c.)

◆ Tailoring payments to income needs, (Ch7/SecV/PtC.1.e.)

◆ Termination of plan: how to avoid make-up penalty, (Ch7/SecV/PtC.1.d.7))

◆ Transfer of portion of IRA to another IRA results in prohibited modification, (Ch7/SecV/PtC.1.d.1)d))

- Unemployed persons exempt from penalty for certain IRA distributions, (Ch7/SecV/PtC.11.)

* Explanation of premature distribution penalty, (Ch7/SecV)

* First-time homebuyer exception to penalty applies to IRAs, (Ch7/SecV/PtC.12.)

* Form 5329 used to pay tax, (Ch7/SecV/PtE)

- Form 5329 not required in all cases, (Ch7/SecV/PtE.1.)

* Hardship distributions not exempted from penalty, (Ch7/SecV/PtC.9.)

* Hurricanes

- Harvey, Irma, Maria: penalty relief for qualified hurricane distributions, (Ch7/SecV/PtC.21.)

- Katrina, Rita, Wilma: penalty relief for qualified hurricane distributions, (Ch7/SecV/PtC.15.)

* Involuntary distributions not exempted from penalty, (Ch7/SecV/PtC.10.)

- Exception for assets seized by IRS, (Ch7/SecV/PtC.10.a.)

* Medical benefits, exception for, see Exceptions to penalty above

* Net unrealized appreciation not subject to penalty, (Ch7/SecVIII/PtC.4.)

* Public safety employees

- Age 50 separation-from-service exception, (Ch7/SecV/PtC.2.d.)

* QDRO payments, exception for, see Exceptions to penalty above

* Qualified education expenses, see Education expenses above

* Qualified reservist distributions, (Ch7/SecV/PtC.16.)

* Roth conversions: exception to penalty, (Ch7/SecV/PtC.14.)

- Recapture rule for certain distributions made within 5 years after conversion, (Ch7/SecV/PtC.14.a.)

◆ Ordering rules, (Ch7/SecV/PtC.14.c.)

* Roth IRA

- Application of penalty to Roth IRA withdrawals, (Ch7/SecV/PtD.2.)

- Exception to penalty for Roth conversions, see Roth conversions above

* Section 457 plans

- Section 457 plans exempt from penalty except for certain rollover accounts, (Ch16/SecIII/PtA.9.c.)

* Seizure of plan assets by IRS, (Ch7/SecV/PtC.10.a.)

* SIMPLE-IRA plan withdrawals subject to 25% penalty if taken in first two years after SIMPLE-IRA is established, (Ch7/SecV/PtD.1.)

* Substantially equal payments exception, see Exceptions to penalty above

* Termination of plan: distributions not exempt from penalty, (Ch7/SecV/PtC.9.)

PRENUPTIAL AGREEMENT, see J&S RULES

PREPARER PENALTIES

* IRC §6694, (Ch1B/Def-PracticeBeforeTheIRS/PtE)

PRERETIREMENT SURVIVOR ANNUITY, see J&S RULES

PRESENT VALUE, see DISTRIBUTIONS

PREVAILING WAGE LAWS

* Plan designed to satisfy prevailing wage laws, see DAVIS-BACON PLANS

* Preemption of state laws, see ENFORCEMENT OF ERISA

PRIMARY INSURANCE AMOUNT (PIA), see PERMITTED DISPARITY

PRIOR YEAR TESTING METHOD, see ADP AND ACP TESTING

PRIVATE LETTER RULING

* Citations for private letting rulings explained, (Ch1B/Def-PrivateLetterRuling/PtA.2.)

* Definition of private letter ruling, (Ch1B/Def-PrivateLetterRuling)

* Procedure for obtaining a ruling, (Ch1B/Def-PrivateLetterRuling)

* Reliance limitations on private letter rulings, (Ch1B/Def-PrivateLetterRuling/PtA.1.)

* Reorganization of responsibilities for issuing private letter rulings, (Ch1B/Def-PrivateLetterRuling/PtB)

* User fee for ruling request, see USER FEES

PRIOR BENEFIT STRUCTURE TEST, see COVERAGE TESTING

PRIOR EMPLOYER, see EMPLOYER

PROFESSIONAL EMPLOYER ORGANIZATIONS (PEOs), see LEASED EMPLOYEES

PROFIT SHARING PLAN

* Accrual of benefits under a profit sharing plan, see ACCRUAL OF BENEFITS

* Allocation formulas under a profit sharing plan, see ACCRUAL OF BENEFITS

* Could a profit sharing plan be established solely to accept rollovers? (Ch3A/SecII/PtB.3.b.)

* Deduction limits for employer contributions, see DEDUCTION LIMITS

* Definite allocation formula, see ACCRUAL OF BENEFITS

* Definition of a profit sharing plan, (Ch1B/Def-ProfitSharingPlan)

* Discontinuance of contributions, see VESTING RULES

* Profits not required for employer to contribute, (Ch3A/SecII/PtB.1.)

* Restrictions on distributions, see DISTRIBUTIONS

* Substantial and recurring employer contributions required to have a qualified profit sharing plan, (Ch3A/SecII/PtB.3.)

* Why employer might establish a profit sharing plan, (Ch3A/SecII/PtB.6.)

PROHIBITED TRANSACTIONS

* 15% excise tax on transactions, (Ch14/SecV/PtB)

* 12b-1 fees paid by mutual fund with respect to plan's investments in fund: prohibited transaction issues, (Ch14/SecII/PtE.7.)

* 100% excise tax (second tier tax), (Ch14/SecV/PtC)

* Administrative exemption may be requested for a particular transaction, (Ch14/SecIII/PtA)

- Accelerated approval under certain circumstances (PTE 96-62), (Ch14/SecIII/PtA.2.)

- Procedure for applying for exemption, (Ch14/SecIII/PtA.3.)

◆ Retroactive exemption requests, (Ch14/SecIII/PtA.3.d.)

* Advising participants about investments in manner that can increase compensation to fiduciary, (Ch14/SecII/PtE.8.i.)

* Ancillary services by bank, (Ch14/SecII/PtE.8.b.)

* Adequate consideration, (Ch1A/Def-Adequate Consideration)

* Automatic rollovers under IRC §401(a)(31)(B)

- Exemption for plan sponsors who are financial institutions to use own IRAs (or IRAs of affiliates), (Ch14/SecII/PtE.12.)

◆ Restriction on fees that may be charged by IRA, (Ch14/SecII/PtE.12.b.10))

* Bank deposits: exemption, (Ch14/SecII/PtE.8.a.)

* Best Interest Contract Exemption (PTE 2016-01), (Ch14/SecII/PtE.5.)

- Bank networking arrangements, (Ch14/SecII/PtE.5.g.2))

- Impartial conduct standards (only part effective until July 1, 2019), (Ch14/SecII/PtE.5.c.3))

♦ Temporary enforcement policy (FAB 2018-02) extends application of only Impartial Conduct Standards, pending further guidance, (Ch13B/SecII/PtA.2.a.2)), (Ch14/SecII/PtE)

- Level-fee fiduciaries: special rules ("BIC-Lite"), (Ch14/SecII/PtE.5.g.1)

- Purchases and sales exemption, (Ch14/SecII/PtE.5.k.)

- Temporary enforcement policy (FAB 2018-02) permits use of BIC Exemption pending further guidance following Fifth Circuit’s decision to vacate the Fiduciary Rule, (Ch14/SecII/PtE)

- Transition period (through July 1, 2019), (Ch14/SecII/PtE.5.j.)

* Block trades, (Ch14/SecII/PtA.3.e.)

* Broker-dealers, exemptions for transactions with, see Class exemptions below

* Church plans that are nonelecting under ERISA are subject to disqualification for engaging in prohibited transactions, (Ch14/SecV/PtE.1.)

* Class exemptions

- Broker-dealer transactions (PTE 75-1), (Ch14/SecII/PtE.3.)

- Commissions for certain transactions, (Ch14/SecII/PtE.2.) (PTE 77-9), (Ch14/SecII/PtE.3.) (PTE 75-1), (Ch14/SecII/PtE.2.) (PTE 86-128)

◆ Impartial conduct standards made applicable, (Ch14/SecII/PtE.2.a.7))(Ch14/SecII/PtE.3.c.1))(Ch14/SecII/PtE.3.d.1))(Ch14/SecII/PtE.4.b.)

- Conversion of bank's common trust fund into mutual fund (PTE 97-41), (Ch14/SecII/PtE.6.g.)(Ch14/SecII/PtE.8.g.)

- Court-ordered transactions (PTE 79-15), (Ch14/SecIII/PtB.2.a.1))

- Cross-collateralization/indemnification agreement between IRA/plan and non-plan investments: temporary class exemption proposed, (Ch14/SecII/PtB.4.a.5))

- Customer notes held by employer: sale or contribution to plan permitted under exemption (PTE 85-68), (Ch14/SecII/PtA.3.c.)

- Definition of "plan" clarified for numerous class exemptions, (Ch14/SecIII/PtB)

- Excise tax waiver for certain prohibited transactions corrected through VFC Program (PTE 2002-51), 13B.106, 13B.742, (Ch13B/SecII/PtB.1.b.4)a))

- Explanation of class exemptions, (Ch14/SecIII/PtB)

- Extensions of credit between plan and broker-dealer (PTE 75-1), (Ch14/SecII/PtE.3.)

- Foreign exchange transactions, (Ch14/SecII/PtE.8.h) 

◆ Class exemption (PTE 94-20), (Ch14/SecII/PtE.8.h.1))

◆ Standing authorization (PTE 98-54), (Ch14/SecII/PtE.8.h.2))

◆ Statutory exemption, (Ch14/SecII/PtE.8.)

- Incentives to certain IRA or Keogh customers (PTE 93-1, PTE 93-33 and PTE 97-11), (Ch14/SecII/PtE.8.f.1))

- In-house assets managers (INHAMs) (PTE 96-23), (Ch14/SecIII/PtB.2.d.)

- Insurance company's general account: certain transactions with account eligible for exemption (PTE 95-60), (Ch14/SecIII/PtB.2.b.)

- Insurance contracts: exemptions for certain transactions involving investments in contracts, (Ch14/SecII/PtE.2.) (PTE 77-9 nad PTE 84-24), (Ch14/SecII/PtE.8.d.) (PTE 79-41 and PTE 79-60)

- Interest-free loans (PTE 80-26), (Ch14/SecII/PtB.4.a.)

◆ Incidental expenses, (Ch14/SecII/PtB.4.a.1))

◆ Written loan documentation required if loan is for more than 60 days, (Ch14/SecII/PtB.4.a.3)d))

- IRA customers: incentives may be provided under certain limitations, (Ch14/SecII/PtE.8.f.)

- Keogh customers: incentives may be provided under certain limitations, (Ch14/SecII/PtE.8.f.1)b))

- Life insurance: purchase from plan not prohibited transaction under certain conditions (PTE 92-6), (Ch14/SecII/PtA.3.b.2))

- Life insurance: sale to plan not prohibited transaction under certain circumstances (PTE 92-5), (Ch14/SecII/PtA.3.b.1))

- Mortgage pool investments (PTE 83-1), (Ch14/SecIII/PtB.2.h.)

- Mutual funds: exemptions for certain investments made by plans, (Ch14/SecII/PtE.2.) (PTE 77-9 and PTE 84-24), (Ch14/SecII/PtE.6) (PTE 77-4), (Ch14/SecII/PtE.6.h) (PTE 77-3 and PTE 79-13)

- Pension Payback Program (PTE 96-63), (Ch14/SecIII/PtB.2.e.)

- Publicly-offered shares so issuer may retire indebtedness (PTE 80-83), (Ch14/SecIII/PtB.2.g.)

- Qualified professional asset managers (QPAMs): exemption for certain transactions involving QPAMs (PTE 84-14), (Ch14/SecIII/PtB.2.c.)

- REITs: exemption treats shares of beneficial interests in trust REITs as employer securities (PTE 2004-07), (Ch14/SecII/PtF.8.)

- Release of claims and extension of credit relating to litigation (PTE 2003-39), (Ch14/SecIII/PtB.2.f.)

◆ Additional conditions for non-cash assets and benefit enhancements, (Ch14/SecIII/PtB.2.f.6)f))

◆ Additional requirements effective June 15, 2010, (Ch14/SecIII/PtB.2.f.4)c)i))

- Securities lending (PTE 2006-16), (Ch14/SecII/PtB.4.b.)

◆ Expanded to cover lending to certain foreign banks and broker-dealers, (Ch14/SecII/PtB.4.b.1))

◆ Replaces PTE 81-6 and PTE 82-63, (Ch14/SecII/PtB.4.b.)

- Securities transactions: execution of trades eligible for exemptive relief, (Ch14/SecII/PtE.3.) (PTE 75-1), (Ch14/SecII/PtE.2.) (PTE 86-128)

- SEP customers: incentives may be provided under certain limitations, (Ch14/SecII/PtE.8.f.1)a))

- Settlement agreement with DOL (PTE 94-71), (Ch14/SecIII/PtB.2.a.1))

- Short-term debt instruments (PTE 81-8), (Ch14/SecII/PtB.4.c.)

- SIMPLE-IRA plan customers: incentives may be provided under certain limitations, (Ch14/SecII/PtE.8.f.1))

* Commissions received by disqualified persons, exemptions for, see Class exemptions above

* Common or collective fund: exemption for investments by plan, (Ch14/SecII/PtE.8.c.)

* Contribution of property to plan is prohibited transaction under certain circumstances, (Ch14/SecII/PtA.2.)

- Customer notes: exemption for sale or contribution to plan, (Ch14/SecII/PtA.3.c.)

- Employer securities: exemption for contribution to or acquisition by plan, (Ch14/SecII/PtA.3.d.)

* Conversion of bank's common trust fund into mutual fund (PTE 97-41), (Ch14/SecII/PtE.5.g.)(Ch14/SecII/PtE.5.g.)

* Correction of prohibited transactions, (Ch14/SecII)

- Excess compensation for services, (Ch14/SecIV/PtE)

- Loan or lease to plan, (Ch14/SecIV/PtD)

- Loan or lease to disqualified person, (Ch14/SecIV/PtC)

- Purchase by plan from disqualified person, (Ch14/SecIV/PtB)

- Sale to disqualified person, (Ch14/SecIV/PtA)

- Sale to plan, (Ch14/SecIV/PtB)

- Third party sale by disqualified person of property acquired in prohibited transaction, (Ch14/SecIV/PtA.2.)

- Third party sale by plan of property acquired in prohibited transaction, (Ch14/SecIV/PtB.2.)

* Court-ordered transactions: exemption, (Ch14/SecIII/PtB.2.a.1))

* Cross-trading, (Ch14/SecII/PtA.3.f.)

* Customer notes held by employer may be purchased by plan under exemption, (Ch14/SecII/PtA.3.c.)

* Deposit of 401(k) and other employee contributions: prohibited transaction resulting from late deposit, (Ch13B/SecII/PtB.1.b.2)a))(Ch14/SecV/PtC)

* Discount brokerage service offered by bank-trustee, (Ch14/SecV/PtC)

* Disqualified person: definition, (Ch1A/Def-DisqualifiedPerson)

- Example, (Ch1A/Def-DisqualifiedPerson/PtA.10.)

- Participant treated as fiduciary of self-directed account for purposes of the tax code's prohibited transaction rules, 1A.174, (Ch1A/Def-DisqualifiedPerson/PtA.1.)

* Electronic communications networks (or alternative trading systems), (Ch14/SecII/PtE.1.g.)

* Eligible individual account plan, see Employer securities and Qualifying employer real property below

* Employer acting as payor-agent for withholding purposes, (Ch14/SecII/PtD.2.b.1))

* Employer real property, see Qualifying employer real property below

* Employer securities

- 10% of plan assets limit as general rule, (Ch14/SecII/PtF.3.a.)

- Adequate consideration requirement, (Ch14/SecII/PtF.4.)

- Commission can't be charged for exemption to apply, (Ch14/SecII/PtF.5.)

- Contributions of employer securities to plan, (Ch14/SecII/PtA.3.d.1))

- Definition of qualifying employer securities, (Ch14/SecII/PtF.1.)

- Eligible individual account plan may invest up to 100%, (Ch14/SecII/PtF.3.b.)

- Exemption for investment by plan in employer securities, (Ch14/SecII/PtF)

- Floor-offset arrangement limited to 10%, (Ch14/SecII/PtF.3.c.)

- Insider trading rules, (Ch14/SecII/PtF.6.)

- Qualifying employer securities may be acquired by plan, (Ch14/SecII/PtF)

- REITs: exemption treats shares of beneficial interests in trust REITs as employer securities (PTE 2004-07), (Ch14/SecII/PtF.8.)

- Section 401(k) plans subject to special 10% limit if employees are required to invest deferrals in employer securities, (Ch14/SecII/PtF.3.d.)

◆ Does not affect plan requirement that matching contributions be invested in employer stock, (Ch14/SecII/PtF.3.d.3)a))

◆ ESOP exception, (Ch14/SecII/PtF.3.d.1)b))

◆ Exception if mandatory investment is not more than 1% of compensation, (Ch14/SecII/PtF.3.d.1)d))

◆ Non-401(k) portion subject to general rule, (Ch14/SecII/PtF.3.d.3))

◆ Not applicable to participant-directed plans, (Ch14/SecII/PtF.3.d.1)a))

* Enforcement of prohibited transaction rules

- Excise tax levied by IRS, see Excise tax below

- Title I of ERISA: enforcement by DOL of Title I prohibited transaction rules, see ENFORCEMENT OF ERISA

* ESOPs

- Collateral limited to stock acquired with exempt loans, (Ch14/SecII/PtB.3.d.)

- Corporate dividends used to repay exempt loan, (Ch14/SecII/PtB.2.e.2))

- Establishing the loan payment schedule, (Ch14/SecII/PtB,.3,.f,.)

- Exemption for loan obtained to acquire employer securities, (Ch14/SecII/PtB.2.)

- Refinancing the exempt loan, (Ch14/SecII/PtB.3.f.1))

- Sale of unallocated shares to repay loan, (Ch14/SecII/PtB.3.g.)

- Suspense account may be maintained for unallocated securities, (Ch14/SecII/PtB.2.e.)

* ERISA §502(l) penalty applies to fiduciary engaged in prohibited transaction, (Ch14/SecVI/PtB.2.)

* Excise tax on prohibited transactions, (Ch14/SecV)

- Calculation of initial tax, (Ch14/SecV/PtB)

- Correction of certain prohibited transactions within 14 days avoid excise taxes, (Ch14/SecIV/PtF)

- Loan or lease transaction: calculation of excise tax, (Ch14/SecV/PtB.3.)

- Pyramiding of tax on loan or lease transaction, (Ch14/SecV/PtB.3.)

- Sale transaction: calculation of excise tax, (Ch14/SecV/PtB.2.)

- Second tier tax (100% tax), (Ch14/SecV/PtC)

- Statute of limitations on collection of tax, (Ch14/SecV/PtB.5.)

◆ Refund of improperly paid taxes, (Ch14/SecV/PtB.5.)

- Taxable period for purposes of calculating excise tax, (Ch14/SecV/PtA)

- Waiver of excise taxes if certain prohibited transactions are corrected through VFC Program (PTE 2002-51), (Ch13B/SecII/PtB.1.b.4)a))

* Exempt loan under ESOP, see (Ch6/SecIII/PtD.2.k.) above

* Extensions of credit, see Loans involving plan assets

* Fair market value transactions with service providers, (Ch14/SecII/PtA.3.a.)

* Fiduciary

- Fee disclosures, see Services exemption below

- Self-dealing by, see Self-dealing by fiduciary below

* Fiduciary adviser, see Investment advice rendered by fiduciary adviser, below

* "Float" earned by financial services provider on plan disbursements and investment trades, (Ch13B/SecII/PtF.3.g.), (Ch13B/SecII/PtF.3.g.)

- Court rules float income is not plan assets, (Ch13B/SecII/PtF.3.g.2))

* Foreign exchange transactions, (Ch14/SecII/PtE.8.h.)

- Class exemption (PTE 94-20), (Ch14/SecII/PtE.8.h.1))

- Standing authorization from independent fiduciary (PTE 98-54), (Ch14/SecII/PtE.8.h.2))

- Statutory exemption, (Ch14/SecII/PtE.8.h.)

* Governmental plans subject to disqualification for engaging in prohibited transactions, (Ch14/SecV/PtE.2.)

* In-house assets managers (INHAMs) (PTE 96-23), (Ch14/SecIII/PtB.2.d.)

* Insider trading rules, (Ch14/SecII/PtF.6.)

- Exemption for most employee benefit plan transactions, (Ch14/SecII/PtF.6.f.)

- Prohibition on insider trading during certain blackout periods, (Ch14/SecII/PtF.7.)

* Insurance company's general account: exemption for certain transactions involving the account (PTE 95-60), (Ch14/SecIII/PtB.2.b.)

* Insurance contracts

- Class exemptions for investments in, see Class exemptions above

- Statutory exemption for investments in, see Statutory exemptions below

* Investment advice rendered by a fiduciary adviser, (Ch14/SecII/PtE.14.)

- Audit requirements, (Ch14/SecII/PtE.14.e.)

- Computer Model Method, (Ch14/SecII/PtE.14.c.2))

◆ Annuity options do not have to be considered, (Ch14/SecII/PtE.14.c.2)a)vii))

◆ Future returns must be "appropriately weighted" in the computer model, (Ch14/SecII/PartE.14.c.2)a)iv))

◆ Participant may request that certain investment options be disregarded, (Ch14/SecII/PtE.14.c.2)a)vii))

- Disclosure requirements, (Ch1A/Def-ListedTransactions/PtD.4.)

◆ Model fiduciary adviser disclosure form, (Ch14/AppA)

- Fee Leveling Method, (Ch14/SecII/PtE.14.c.1))

- Rebalancing options under investment advice arrangement, (Ch14/SecII/PtE.14.g.1))

- Recordkeeping requirements, (Ch14/SecII/PtE.14.j.)

- Re-finalized regulations and elimination of class exemption that would have broadened scope of relief, (Ch14/SecII/PtE.14.)

- Status of other exemptions/SunAmerica letter, (Ch14/SecII/PtE.14.m.)

* IRAs

- Best Interest Contract Exemption for investment advice fiduciaries under expansion of fiduciary definition, (Ch14/SecII/PtE.5.)

- Establishment of corporation with IRA assets, (Ch14/SecII/PtE.1.i.2))

- Incentives to IRA customers, (Ch14/SecII/PtE.8.f.)

- Investment of IRA assets in family partnership, (Ch14/SecII/PtE.1.m.)

- Investment strategy program offered to IRA clients did not result in prohibited transactions, (Ch14/SecII/PtE.8.i.3))

- IRA owner treated as fiduciary for prohibited transaction purposes, (Ch14/SecII/PtE.1.j.1))

- Loan from IRA to IRA owner's church, (Ch14/SecII/PtB.1.h.)

- Rollover to start up business (ROBS transaction), (Ch14/SecII/PtE.1.i.3))

- Tax exemption lost if IRA owner engages in prohibited transaction with IRA, (Ch14/SecV/PtD.1.a.)

* Keogh customers: incentives may be provided under certain limitations, (Ch14/SecII/PtE.8.f.1)b))

* Leasing between plan and disqualified person, (Ch14/SecII/PtA)

* Lending plan assets, see Loans involving plan assets below

* LLC owners not eligible for certain exemptions, (Ch14/SecII/PtG.2.)

* Loans involving plan assets

- Broker-dealers: exemption for certain extensions of credit between plan and the broker-dealer, see Class exemptions above

- Class exemptions for interest-free loans, securities lending and short-term debt instruments, (Ch14/SecII/PtB.4.b.), (Ch14/SecII/PtB.4.c.)

- Indemnification of broker with respect to performance of futures trading account is prohibited extension of credit, (Ch14/SecII/PtB.4.a.4))

◆ Temporary class exemption issued, (Ch14/SecII/PtB.4.a.5))

- Participant loan exemption, see PARTICIPANT LOANS

- Prohibited transaction regarding loans between plan and disqualified person, (Ch14/SecII/PtB)

* Life insurance

- Purchase of life insurance from plan: class exemption (PTE 92-6), (Ch14/SecII/PtA.3.b.2))

- Sale of life insurance to plan: class exemption (PTE 92-5), (Ch14/SecII/PtA.3.b.1))

* Loans to participants: exemption if certain conditions satisfied, see PARTICIPANT LOANS

* Mortgage pool investments (PTE 83-1), (Ch14/SecIII/PtB.2.h.)

* Mutual funds

- 12b-1 and subtransfer agency fees, (Ch14/SecII/PtE.7.)

- Exemptions for investments in, see Class exemptions above

- Fiduciary is investment advisor to mutual fund: class exemption for certain transactions (PTE 77-4), (Ch14/SecII/PtE.6.)

- In-house plan for funds employees (PTE 77-3), (Ch14/SecII/PtE.6.h.)

- Revenue-sharing payments, (Ch14/SecII/PtE.7.)

* Noncash contributions might result in prohibited transaction, (Ch14/SecII/PtA.2.)

* Nonelecting church plans are subject to disqualification for engaging in prohibited transactions, (Ch14/SecV/PtE.2.)

* Participant-directed account: self-dealing issues, (Ch14/SecII/PtE.1.j.)

- Advising participants about investments in manner that can increase compensation to fiduciary, (Ch14/SecII/PtE.8.i.)

- Participant treated as fiduciary of self-directed account for purposes of the tax code's prohibited transaction rules, (Ch1A/Def-DisqualifiedPerson/PtA.1.)

* Orphan plans: exemption covers payment of qualified termination administrator and affiliates for services (PTE2006-06), (Ch14/SecII/PtE.13.)

- Modifications proposed for Chapter 7 plans, (Ch14/SecII/PtE.13.c.1))

* Participant loans: exemption if certain conditions satisfied, see PARTICIPANT LOANS

* Partners owning more than 10% interest not eligible for certain exemptions, (Ch14/SecII/PtG.1.)

* Party-in-interest: definition, (Ch1B/Def-PartyInInterest)

- Participant who is a former employee is not necessarily a party-in-interest, (Ch14/SecII/PtB.2.a.2))

* Pension Payback Program for delinquent transmission of participant contributions (PTE 96-63), (Ch14/SecIII/PtB.2.e.)

* Pooled separate account: exemption for certain investment transactions, (Ch14/SecII/PtE.8.c.)

* Principal Transactions Exemption (PTE 2016-02), (Ch14/SecII/PtE.3.g.)

* PTE 75-1, (Ch14/SecII/PtE.3.)

* PTE 77-3, (Ch14/SecII/PtE.6.h.)

* PTE 77-4, (Ch14/SecII/PtE.6.)

* PTE 77-9, (Ch14/SecII/PtE.2.)

* PTE 79-13, (Ch14/SecII/PtE.6.h.1.)

* PTE 79-15, (Ch14/SecIII/PtB.2.a.1))

* PTE 79-41, (Ch14/SecII/PtE.8.d.1))

* PTE 79-60, (Ch14/SecII/PtE.8.d.2))

* PTE 80-26 (as modified by PTE 2000-14 and PTE 2002-14), (Ch14/SecII/PtB.4.a.)

* PTE 80-83, (Ch14/SecIII/PtB.2.g.)

* PTE 81-8, (Ch14/SecII/PtB.4.c.)

* PTE 83-1, (Ch14/SecIII/PtB.2.h.)

* PTE 84-14, (Ch14/SecIII/PtB.2.c.)

* PTE 84-24, (Ch14/SecII/PtE.2.)

* PTE 85-68, (Ch14/SecII/PtA.3.c.)

* PTE 86-128, (Ch14/SecII/PtE.2.)

* PTE 92-5, (Ch14/SecII/PtA.3.b.1))

* PTE 92-6, (Ch14/SecII/PtA.3.b.2))

* PTE 93-1, (Ch14/SecII/PtE.8.f.2)

* PTE 93-33, (Ch14/SecII/PtE.8.f.1))

* PTE 94-20, (Ch14/SecII/PtE.8.h.1))

* PTE 94-71, (Ch14/SecIII/PtB.2.a.2))

* PTE 95-60, (Ch14/SecIII/PtB.2.b.)

* PTE 96-23, (Ch14/SecIII/PtB.2.d.)

* PTE 96-62, (Ch14/SecIII/PtA.2.)

* PTE 96-63, (Ch14/SecIII/PtB.2.e.)

* PTE 97-11, (Ch14/SecII/PtE.8.f.1))

* PTE 97-41, (Ch14/SecII/PtE.6.g.), (Ch14/SecII/PtE.8.g.)

* PTE 98-54, (Ch14/SecII/PtE.8.h.2))

* PTE 2000-14, (Ch14/SecII/PtB.4.a.)

* PTE 2002-13, (Ch14/SecII/PtB.4.a.)

* PTE 2002-14, (Ch14/SecII/PtB.4.a.)

* PTE 2002-51, 13B.106, 13B.742, (Ch13B/SecII/PtB.1.b.4)a))

* PTE 2004-07, (Ch14/SecII/PtF.8.)

* PTE 2004-16, (Ch14/SecII/PtE.12.)

* PTE 2006-06, (Ch14/SecII/PtE.13.)

* PTE 2006-16, (Ch14/SecII/PtB.4.b.)

* PTE 2016-01, (Ch14/SecII/PtE.5.)

* PTE 2016-02, (Ch14/SecII/PtE.3.g.)

* Qualified professional asset managers (QPAMs): exemption for transactions involving QPAMs (PTE 84-14), (Ch14/SecIII/PtB.2.c.)

* Qualifying employer real property: exemption for certain investments

- 10% of plan assets limit as general rule, (Ch14/SecII/PtF.3.a.)

- Adequate consideration requirement, (Ch14/SecII/PtF.4.)

- Commission can't be charged for exemption to apply, (Ch14/SecII/PtF.5.)

- Definition of qualifying employer real property, (Ch14/SecII/PtF.1.)

◆ Geographically dispersed rule determined after contribution or sale of one or more parcels, (Ch14/SecII/PtF.2.b.1))

- Eligible individual account plan may invest up to 100%, (Ch14/SecII/PtF.3.b.)

- Exemption for investment in qualifying employer real property, (Ch14/SecII/PtF)

- Floor-offset arrangement limited to 10%, (Ch14/SecII/PtF.3.c.)

- Geographical dispersement requirement, (Ch14/SecII/PtF.2.b.)

* Qualifying employer securities, investment in, see Employer securities above

* Real property, see Qualifying employer real property above

* Reasonable compensation for services, see Services exemption below

* Reimbursement by plan of direct expenses incurred by employer or fiduciary, (Ch3B/SecXII/PtB.6.), (Ch3B/SecXII/PtB.6.)

* REITs: PTE 2004-07 treats shares of beneficial interests in trust REITs as employer securities, (Ch14/SecII/PtF.8.)

* Relationship of person with fiduciary may result in self-dealing transaction if such person benefits from the transaction, (Ch14/SecII/PtE.10.)

* Revenue sharing payments received by fiduciary may result in self-dealing transaction, (Ch14/SecII/PtC.1.a.1)), (Ch14/SecII/PtE.7.)

* Rollovers as Business Start-ups (ROBS): prohibited transaction issues identified by IRS, (Ch7/SecIV/PtC.2.b.), (Ch14/SecII/PtE.1.i.3))

* S corporation owners not eligible for certain exemptions, (Ch14/SecII/PtG.1.a.)

* Sales between plan and disqualified person, (Ch14/SecII/PtA)

- Best Interest Contract Exemption provides relief for certain sales and purchases, (Ch14/SecII/PtE.5.k.)

- Block trades, (Ch14/SecII/PtA.3.e.)

- Class exemptions for life insurance, see Life insurance above

- Cross-trading, (Ch14/SecII/PtA.3.f.)

- Fair market value transactions with service providers, (Ch14/SecII/PtA.3.a.)

- Publicly-offered shares so issuer may retire indebtedness (PTE 80-83), (Ch14/SecIII/PtB.2.g.)

* Section 403(b) plans

- Application of prohibited transaction rules to such plans, (Ch13A/SecII/PtD.2.), (Ch16/SecII/PtL)

* Securities transactions: class exemption for execution of transactions, see Class exemptions above

* Self-correcting transaction may eliminate need to take corrective action/second tier tax avoided, (Ch14/SecV/PtB.2.), (Ch14/SecV/PtC)

* Self-dealing by fiduciary, (Ch14/SecII/PtE)

- 12b-1 fees paid by mutual fund, (Ch14/SecII/PtE.7.)

- Ancillary services by bank, (Ch14/SecII/PtE.8.b.)

- Bank deposits exempted, (Ch14/SecII/PtE.8.a.)

- Bank-trustee's discount brokerage service may be used if certain conditions are satisfied, (Ch14/SecV/PtC)

- Best Interest Contract Exemption, (Ch14/SecII/PtE.5.) Also see Best Interest Contract Exemption above

- Class exemptions relating to commissions and other fees on investment transactions, see Class exemptions above

- Collateralizing loan from third party lender with employer's anticipated reversion from plan, (Ch14/SecII/PtE.1.f.)

- Commissions and other similar fees, (Ch14/SecII/PtA.3.a.)

- Common or collective investment fund: exemption for investments, (Ch14/SecII/PtE.8.c.)

- Companies related to fiduciary: transactions with such companies may be self-dealing, (Ch14/SecII/PtE.1.h.)

- Compensation received by fiduciary, (Ch14/SecII/PtE.1.c.)

- Entity wholly-owned by plan, (Ch14/SecII/PtE.1.i.)

- Float on plan checks, (Ch13B/SecII/PtF.3.g.), (Ch13B/SecII/PtF.3.g.)

- Gratuities paid to trustees, (Ch14/SecII/PtE.1.b.)

- Incentive fee arrangement, (Ch14/SecII/PtA.3.a.)

- Incentives to customers: class exemptions, see Class exemptions above

- Insurance products offered by company that is employer or disqualified person, (Ch14/SecII/PtE.2.)

- Investment advice rendered by a fiduciary adviser, (Ch14/SecII/PtE.14.)

- IRA owner treated as fiduciary for self-dealing purposes, (Ch14/SecII/PtE.1.j.1))

- Loans made to third parties in which fiduciary has interest, (Ch14/SecII/PtE)

- Mutual fund

◆ Fiduciary is investment advisor to fund (PTE 77-4), (Ch14/SecII/PtE.6.)

◆ In-house plan maintained by mutual fund (PTE 77-3), (Ch14/SecII/PtE.6.h.)

- Participant-directed transactions that personally benefit the participant, (Ch14/SecII/PtE.1.j.2)a))

- Pooled separate account: exemption for investments, (Ch14/SecII/PtE.8.c.)

- Purchase of stock in bank trustee's parent company, (Ch14/SecII/PtE.1.g.2))

- Recusing oneself from a fiduciary decision, (Ch14/SecII/PtE.1.k.1))

- Related to fiduciary: benefiting such a person through plan transactions, (Ch14/SecII/PtE.10.)

- Representing party with adverse interests to plan, (Ch14/SecVI/PtA.5.a.)

- Sweep fees collected by bank fiduciary might result in self-dealing, (Ch14/SecII/PtE.9.)

- Title I issues involving self-dealing, (Ch14/SecVI/PtA.5.)

* SEP customers: incentives may be provided under certain limitations, (Ch14/SecII/PtE.8.f.)

* Service provider fee disclosures, see Services exemption below

* Services exemption (payments of fees for reasonable fiduciary and administrative services), (Ch14/SecII/PtC)

- Disclosures concerning service provider contracts, (Ch14/SecII/PtC.2.b.)

◆ Contents of disclosure, (Ch14/SecII/PtC.2.b.4))

. . . Interaction with investment advice fiduciary disclosures during transition period, (Ch14/SecII/PtC.2.b.4)b)ii))

◆ Covered service providers, (Ch14/SecII/PtC.2.b.2))

. . . $1,000 threshold test, (Ch14/SecII/PtC.2.b.2)a))

. . . Fiduciaries, (Ch14/SecII/PtC.2.b.2)b))

. . . Indirectly-compensated service providers, (Ch14/SecII/PtC.2.b.2)d))

. . . Investment platform providers, (Ch14/SecII/PtC2.b.2)c))

◆ Direct compensation, (Ch14/SecII/PtC.2.b.2)a)vi))

◆ Exemptive relief for fiduciaries where service provider fails to comply, (Ch14/SecII/PtC.2.b.5))

◆ Guide to specific locations in disclosure would be required by proposed regulations, (Ch14/SecII/PtC.2.b.4)i))

◆ Indirect compensation, (Ch14/SecII/PtC.2.b.2)a)vii))

. . . ERISA recapture accounts, (Ch14/SecII/PtC.2.b.2)a)xii))

◆ Model portfolios, (Ch14/SecII/PtC.2.b.2)c)iii)A))

◆ Multiple parties providing services, (Ch14/SecII/PtC.2.b.2)e))

◆ Sample notice for delinquent service provider disclosure, (Ch14/AppB)

◆ Timing and manner of disclosure, (Ch14/SecII/PtC.2.b.3))

- Fiduciary receiving full-time pay from employer may not be compensated by plan, (Ch14/SecII/PtC.3.a.)

- Reasonable compensation: definition, (Ch14/SecII/PtC.1.a.)

◆ ERISA recapture accounts, (Ch14/SecII/PtC.1.a.1)b))

◆ Revenue sharing fees, (Ch14/SecII/PtC.1.a.1))

- Reasonable contract or arrangement, (Ch14/SecII/PtC.2.)

◆ Termination of contract on reasonably short notice, (Ch14/SecII/PtC.2.a.)

- Reimbursement for direct expenses incurred by fiduciary, (Ch3B/SecXII/PtB.6.)

- Revenue sharing fees, (Ch14/SecII/PtC.1.a.1)), (Ch14/SecII/PtC.2.b.2)a)vii)) (indirect compensation for fee disclosure requirements)

- Self-dealing: no relief under services exemption, (Ch14/SecII/PtC.4.)

* Settlement agreement with DOL: exemption for transactions taken pursuant to settlement (PTE 94-71), (Ch14/SecIII/PtB.2.a.2))

* SIMPLE-IRA plan customers: incentives may be provided under certain limitations, (Ch14/SecII/PtE.8.f.)

* Sole proprietors not eligible for certain exemptions, (Ch14/SecII/PtG.1.)

* Starting up a business with rollover account, see Rollovers as Business Start-ups (ROBS) above

* Statute of limitations on collection of excise tax, (Ch14/SecV/PtB.5.)

* Statutory exemptions

- Ancillary services by bank, (Ch14/SecII/PtE.8.b.)

- Bank deposits, (Ch14/SecII/PtE.8.a.)

- Block trades, (Ch14/SecII/PtA.3.e.)

- Common or collective investment fund, (Ch14/SecII/PtE.8.c.)

- Cross-trading, (Ch14/SecII/PtA.3.f.)

- Electronic communications networks (or alternative trading systems), (Ch14/SecII/PtE.1.g.)

- Employer securities contributed to plan, see Employer securities above

- ESOP loans, see (Ch6/SecIII/PtD.2.k.) above

- Fair market value transactions with service providers, (Ch14/SecII/PtA.3.a.)

- Fiduciary may serve in dual capacity, (Ch14/SecII/PtE.11.)

- Foreign exchange transactions, (Ch14/SecII/PtE.8.h.)

- Insurance products offered by company that is employer or disqualified person, (Ch14/SecII/PtE.2.)

- Investment advice rendered by a fiduciary adviser, (Ch14/SecII/PtE.14.)

- LLC owners not eligible for certain exemptions, (Ch14/SecII/PtG.2.)

- Participant loans, see PARTICIPANT LOANS

- Partners not eligible for certain exemptions, (Ch14/SecII/PtG.1.)

- Pooled investment account, (Ch14/SecII/PtE.8.c.)

- Qualifying employer real property, investment in, see Qualifying employer real property above

- Reasonable compensation for services, see Services exemption above

- S corporation owners not eligible for certain exemptions, (Ch14/SecII/PtG.1.)

- Sole proprietor not eligible for certain exemptions, (Ch14/SecII/PtG.1.)

* Swap transactions: QPAM and INHAM class exemptions can be used with respect to swap transactions entered into by plan, (Ch14/SecIII/PtB.2.c.7))

* Sweep fees collected by bank fiduciary, (Ch14/SecII/PtE.9.)

* Title I of ERISA issues relating to prohibited transactions, (Ch14/SecVI)

- Civil penalties may be imposed by DOL, (Ch14/SecVI/PtB.1.)

- Enforcement by DOL, see ENFORCEMENT OF ERISA

- Penalty on fiduciary under ERISA §502(l), (Ch14/SecVI/PtB.2.)

- Representation of party with adverse interest to plan, 

* Types of prohibited transactions,

- Furnishing goods, services or facilities, (Ch14/SecII/PtC)

- Leasing of property, (Ch14/SecII/PtA)

- Lending of plan assets, (Ch14/SecII/PtB)

- Sale or exchange of property, (Ch14/SecII/PtA)

- Self-dealing by fiduciary, (Ch14/SecII/PtE)

- Use of plan assets by disqualified person, (Ch14/SecII/PtD)

* Use of plan assets by disqualified person, (Ch14/SecII/PtD)

- Domestic partner coverage: welfare plan pays employment taxes resulting from such coverage, (Ch14/SecII/PtD.4.)

- Indirect transfer, (Ch14/SecII/PtD.2.)

- Transfer to employer's checking account, (Ch14/SecII/PtD.2.b.)

◆ Employer acting as payor-agent for withholding purposes, (Ch14/SecII/PtD.2.b.1))

* Waiver of claims against employer as condition for early retirement not prohibited transaction, (Ch14/SecII/PtD.3.)

* Waiver of excise taxes if certain prohibited transactions are corrected through VFC Program, (Ch13B/SecII/PtB.1.b.4)a))

PROTECTION OF BENEFITS, see ANTIASSIGNMENT RULE, ANTI-CUTBACK RULE, EXCLUSIVE BENEFIT RULE

PROTOTYPE PLAN, see APPROVAL PROCESS

PROXY VOTING, see FIDUCIARY DUTY

PRUDENCE, see FIDUCIARY DUTY

P.S. 58 COSTS, see INSURANCE

PTE (CLASS EXEMPTIONS ISSUED BY DOL), (Ch14/SecIII/PtA.2.)

PTIN, see INTERNAL REVENUE SERVICES, TAX RETURN PREPARERS

PTO PLANS (PAID TIME OFF PLANS)

* Compensation attributable to unused sick or vacation leave may be deferred on an elective or nonelective basis to qualified plan, (Ch1A/Def-Compensation/PtF)

* Elective deferral of compensation attributable to unused sick or vacation leave, (Ch1A/Def-Compensation/PtF)

* Post-severance deferral of unused sick or vacation leave, (Ch1A/Def-Compensation/PtF)

PUBLIC SAFETY EMPLOYEES, see HEALTH BENEFITS, PENSION PROTECTION ACT OF 2006, PREMATURE DISTRIBUTION PENALTY, TAXATION OF BENEFITS

PUERTO RICAN PLAN

* Amendments to Puerto Rico tax code, (Ch1B/Def-PuertoRicoPlan/PtC)

* Definition, (Ch13A/SecII/PtC.1.)

* Universal availability requirement for catch-up contributions: Puerto Rico plans disregarded, (Ch11/SecXII/PtE.2.d.7))

PUERTO RICAN TRUST, see TRUST