Evaluation Study of the Impact of the Prohibited Transaction Provisions of the Employee Retirement Income Security Act. Volume I: Summary Report. Volume II: Primary Report

摘要

The report consists of two volumes. Volume I is a brief summary of the purpose, methodology, and findings of the study. Volume II is the primary report, containing a summary of the prohibited transaction provisions of the Employee Retirement Income Security Act (ERISA), a statement of the purpose of the study, explanations of the methodology used, and findings and conclusions in depth. The study was performed to evaluate the extent of awareness and understanding of the ERISA prohibited transaction and provisions and related exemptions on the part of those who administer employee benefit plans; the extent to which practices as to plan transactions have been modified as a result of the ERISA prohibited transaction provisions; and the burdens which are attributable to the ERISA prohibited transaction provisions. The study was primarily focused on the impact of the ERISA prohibited transaction provisions on employee benefit plans, their sponsors, and their administrators. It offers some insight into the extent to which the interests and rights of plan participants have been afforded protection by the prohibited transaction provisions. Its purpose does not include an evaluation of the extent of compliance with the provisions.