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11.10.2020How to Comply with ERISA’s Prohibited Transactions Requirements For Group Benefit PlansThe Employee Retirement Income Security Act of 1974 (“ERISA”), the principal federal law which regulates the benefit plans marketed to employers in this country, imposes specific requirements on most employer-sponsored “welfare benefit plans” (defined to include such things as life insurance, medical benefits and disability benefits). Most employer sponsored health plans, are then, subject to ERISA and its Prohibited Transaction Exemption (“PTE”) rules.
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