Examples of Plan Assets Regulation in a sentence
The Fund intends to rely on this aspect of the Plan Assets Regulation.
The term “benefit plan investor” is defined in the Plan Assets Regulation as (a) any employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title I of ERISA, (b) any plan that is subject to section 4975 of the Code, and (c) any entity whose underlying assets include plan assets by reason of a plan’s investment in the entity (to the extent of such plan’s investment in the entity).
In those circumstances, the Manager, in its sole discretion, may void or undo any such prohibited transaction, and may require each Investor that is a “benefit plan investor” under the Plan Assets Regulation to withdraw from the Fund upon terms that the Manager considers appropriate.
The regulations at 45 CFR 46.103(a) and (b)(5) do not specify a time frame for reporting, except Apromptly.@ For a more serious incident, this may mean reporting to OHRP within days.
The 25% Limit Under the Plan Assets Regulation, and assuming no other exception applies, an entity’s assets are deemed to include “plan assets” subject to ERISA or section 4975 of the Code on any date if, immediately after the most recent acquisition of any equity interest in the entity, 25% or more of the value of any class of equity interests in the entity is held by “benefit plan investors” (the “25% Limit”).