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KNOWLEDGE CHECK

Multiemployer plans
Parties-in-interest/prohibited transactions

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* What is an allowable expense for a multiemployer plan?

The plan is permitted to pay for expenses of the apprenticeship programs put on by the labor union.

The trustees attend meetings in distant locations; the DOL and IRS scrutinizes these expenses carefully for reasonableness and business purpose.

The plan may pay for the trustees to self-manage the investment portfolio rather than retaining a professional investment advisor.

The plan may pay for the legal costs of the collective bargaining unit to conduct a review of its compliance with labor election laws.

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KNOWLEDGE CHECK

Multiemployer plans Parties-in-interest/prohibited transactions

Multiemployer plans Parties-in-interest/prohibited transactions

Check your knowledge on this topic

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Multiemployer plans
Parties-in-interest/prohibited transactions

Multiemployer plans
Parties-in-interest/prohibited transactions