🏢Exemption for Boilermakers Fund from ERISA Prohibited Transactions
Exemption From Certain Prohibited Transaction Restrictions Involving Boilermakers Western States Apprenticeship Fund, Located in Page, Arizona
Summary
This document gives notice of an individual exemption from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974 (ERISA). The exemption permits the purchase of a parcel of improved real property (the Property) by the Boilermakers Western States Apprenticeship Fund (the Plan or Applicant) from the "Navajo Nation" Lodge 4 of the International Brotherhood of Boilermakers, Iron Ship Builders, Blacksmith, Forgers, and Helpers (Lodge 4) whose members may be participants in the Plan.
Agencies
- Labor Department
- Employee Benefits Security Administration
Business Impact
$$ - Med
The exemption allows the Boilermakers Western States Apprenticeship Fund to purchase property without violating ERISA's prohibited transaction rules, impacting financial management and compliance practices for the fund and involved parties. It emphasizes the importance of adhering to conditions set forth by the Department of Labor for such transactions.