Advisory Opinion 1975-83

Dear :

In response to your letter of April 21, 1975, requesting an opinion with respect to whether World Bank Bonds are legal investments for multiemployer plans, the party making the inquiry should be informed that the Department of Labor does not maintain a "legal list" of investments for plans and that whether an investment is prudent must be determined by a plan fiduciary in light of the nature of the investment and the character and aims of the plan, applying the standards set forth in section 404(a) of the Employee Retirement Income Security Act of 1974.