🏗️ERISA Exemption for Training Fund Lease in San Diego
Exemption for Associated General Contractors of America, San Diego Chapter, Inc. Apprenticeship and Training Fund, Located in San Diego, CA
Summary
This document gives notice of an individual exemption from certain prohibited transaction restrictions of the Employee Retirement Income Security Act of 1974, as amended (ERISA or the Act). The exemption permits the Associated General Contractors of America, San Diego Chapter, Inc. (the Chapter) to lease certain improved real property (the Property) located in San Diego, California to the Associated General Contractors of America, San Diego Chapter, Inc. Apprenticeship and Training Fund (the Plan or the Applicant).
Agencies
- Labor Department
- Employee Benefits Security Administration
Business Impact
$$ - Med
The text outlines a regulatory exemption that allows a training fund to lease property without violating ERISA prohibited transaction provisions. This has financial implications for business owners associated with the construction industry, as it presents a model for managing real estate leases while ensuring compliance and potential savings.