Advisory Opinions

Requests for interpretations and other rulings under Title 1 of ERISA are handled by the Office of Regulations and Interpretations under the provisions established by ERISA Procedure 76-1. The office answers inquiries from individuals and organizations in the form of advisory opinions, which apply the law to a specific set of facts, or information letters, which merely call attention to well established principles or interpretations.

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**1976**
AO/ Date/ Reference	Recipient	Description of Request
1976-70 06/10/1976 404	Anonymous	Whether the investment of 100% of a plan's assets in diversified fixed income securities qualifies as diversification of plan assets under section 404(a)(1)(C) of ERISA.
1976-69 06/10/1976 412	Anonymous	Whether a pension plan that is fully insured is required to comply with the bonding requirements of ERISA.
1976-68 06/10/1976	Anonymous	Whether the sale of a corporation’s stock by a profit sharing trust to the corporation constitutes a prohibited transaction under ERISA.
1976-67 05/21/1976 3(3)	Anonymous	Whether a pension or profit-sharing plan in which the only participants are shareholders or their spouses is required to comply with the reporting requirements of ERISA.
1976-66 06/02/1976 3(1) 3(2)	Anonymous	Addresses the classification of severance pay, bonuses, individual retirement accounts (IRAs), and gratuitous payments under ERISA.
1976-65 06/07/1976 3(14) 3(21)	Anonymous	Whether Research Consultants, in performing valuations of closely held securities to be used in establishing employee stock ownership plans (ESOPs), is acting as a fiduciary under section 3(21)(A) of the ERISA.
1976-62 05/05/1976 406	Anonymous	Whether investments of the Laborers Pension Fund in the National Bank and the Insurance Company, in which certain trustees and officers hold positions, constitute conflicts of interest under section 406 of ERISA.
1976-59 05/04/1976 3(14) 406 414	Anonymous	Whether a licensed insurance agent, who is also an office manager and employee of the sponsoring employer and a participant in the plan, qualifies as a “party in interest” under section 3(14) of ERISA and therefore prohibited under section 406 from receiving commissions on the sale of the insurance to the plan.
1976-57 05/06/1976 414	Anonymous	Whether the receipt of compensation by the 12 trustees of a jointly administered pension plan is permitted under section 408(c)(2) of ERISA.

**7976**
AO/ Date/ Reference	Recipient	Description of Request
1976-56 01/19/7976	Anonymous	Whether the Department of Labor, in cooperation with the Joint Pension Task Force (JPTF), will consider the proposed legislation regarding public retirement systems submitted on behalf of company.