![]() ![]() ![]() Under this rule, unless an exception applies, investments in the fund made by certain retirement plans will cause an allocable portion. Many private equity funds that solicit subscriptions from so-called benefit plan investors (i.e., investments for the assets of a retirement plan governed by ERISA's and the Internal Revenue Code's prohibited transaction rules are structured to qualify for one or more of the exceptions to the look-through rule for plan assets under 29 C.F.R. Many of these issues arise from the multi-tier structure that results when a fund invests in other funds that, in turn, invest in operating companies. A broker-dealer is generally not required to look through a trust or similar. Security Act of 1974 (ERISA) federal, state and for-eign tax laws and federal, state and foreign open records laws. The PPM (also called an offering memorandum) is the document that describes the offering and discloses its structure as well as the risks involved in investing. under the Employee Retirement Income Security Act of 1974 (ERISA). If ERISA applies to a severance plan, then claims made by a participant under state and common law (such as breach of contract, state wage statutes, or promissory estoppel) generally are preempted. 414 (q) (3), an employee whose salary is in the top 20 of all employees. This template includes practical guidance, drafting notes, and optional clauses. An employee with annual compensation in the preceding year exceeding the amount in Sec. Use these clauses in a private placement memorandum (PPM) for a private equity fund to address issues arising due to the regulation of retirement plan investments under the Employee Retirement Income Security Act (ERISA), the Internal Revenue Code, and other laws. Use these clauses in a private placement memorandum (PPM) for a private equity fund to address issues arising due to the regulation of retirement plan. ![]()
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