FIDUCIARY RESPONSIBILITY Bonding (See MISCELLANEOUS-Bonding.) Pages in 563-64, 1054-55, 1449-50, 2289, 3948-49, 4561, 4564-65, 4568-69, Effective dates__ 51, 189, 321, 377, 586, 622, 634, 743, 980, 1033, 1174, 1454, 1472, 1729, See also Prohibited transaction rules-effective dates/transition rules. Employer contributions, return of.. 41, 725, 1441-42, 1466, 2284, 3949-50, 4570, 4883-84 619, Exemptions General rule__ 310-11, 570-71, 619, 1076, 1101, 1168, 1446, 1615, 1727, 1848-50, Indicia of ownership outside the United States (Sec Standards for fi- Liability insurance (See Liability of fiduciary-exculpatory/insurance Liability of fiduciary: Breaches before and after holding position_. Co-fiduciary 45-46, 178, 314-15, 574, 733, 955, 1174, 1450, 2289-90, 3780, 3955-56, 4587, General rule_. 45, Delegated responsibility-. Exculpatory/insurance provisions.. 177, 313, 572-73, 619, 632, 953, 731, 1076, 1100, 1163-65, 1173-74, Trustees, special rule----- See also: 2289, 3954-55, 4562, 4567-88, 4885-86 ENFORCEMENT-Fiduciary standards-civil enforcement. Liability of party in interest_ 369. 955-56, 1100, 1163-65, 1173, 1450, 1614-15, 1727, 3780, 4562, 4587 FIDUCIARY RESPONSIBILITY-Continued Need for regulation.. Pages in Legislative History 597, 615, 1071-72, 1086, 1099, 1162-63, 2351, 2359, 3308, 3311, 3370, 3377, 3387, 3395, 3516-17, 3581-82, 4657, 4660-61, 4743, 4795-96, 4803, 4811-12 Plan structure_. See also: 41, 169-70, 565-66, 616, 632, 724, 1441, 2283-84, 2368, 3300, 3772, 3947, 4561, 4564-65, 4743, 4882-83 Standards for fiduciary conduct-adherence to plan documents. Plans covered Previous law 14-15 111-13, 152-53, 286-87, 504-06, 547-48, 601, 604-05, 616, 624, 945-46, 972, 1100, 1162, 1419, 1451, 1454-55, 1465, 2259, 2356, 2365, 3298, 3308, 3378, 3385, 3749, 3773, 3781, 3792, 3918–19, 4563, 4574, 4743, 4788, 4881-82, 4984 591 597, 1071-72, 1085–86, 1100, 1162–63, 1622, 2351-52, 2354, 2359, 2603, 3134, 3295-96, 3305, 3414, 4573 Prohibition from holding plan office (See MISCELLANEOUs-prohibition from holding plan office.) Prohibited transaction rules: Averse interest dealing 42-43 171, 308, 567, 726, 949, 1076, 1099-1100, 1172, 1456, 1857, 1872, 2286, 2368, 3300, 3379, 3776, 3950-51, 4561-62, 4576, 4743, 4886 Effective dates/transition rules--- 180 321, 377, 576, 634, 743, 980-82, 1101, 1166, 1169-70, 1454, 1472-74, 1729, 2301-02, 3784, 3800-01, 3970, 4592-93, 4759, 4762-63, 4897, 4985-86 See also Employer securities and real property-divestment sched- Exemptions from: Administrative authority to grant. 172 309, 568, 617-19, 1443, 1728, 1857, 3776-77, 3788, 4562, 4576-78, 4743-44, 4759, 4765-66, 4796, 4890, 4978-79 Ancillary bank services__ Bank deposits Conversion of securities.. 3310, 4581-82, 4759, 4891-92, 4980 4580-81, 4980, 4991 968-69 1169, 1444, 1462, 1727, 4582, 4892, 4980 Dealing with trust income or assets by party in interest-- Lease arrangements between plans and employers__ Listed securities 1445 4583, 4892, 4981 1463 1665, 1727, 3790-91 175, 309, 311-12, 561-62, 969-70, 1447-48 968, 1166, 1728, 4579-80 4579-80, 4891, 4979 176 Loans guaranteed by party in interest- Multiple plan services.. 176-77, 309, 312, 572, 617-18, 632, 968, 1448, 1463-64, 1729, 3310, 3778, 3791. 4576-77, 4579, 4592-93, 4744, 4759, 4890, 4979 172-73, 309-10, 568-69, 632, 730-31, 968-69, 971, 1167, 1444-45, 1462-64, 1728-29, 2287, 3310, 3778, 3789-91, 3952-53, 4579, 4892. 4981 Owner-employee, individual retirement accounts, subject to____. 966-68 1164, 1443-44, 3777, 3787, 3789, 4583, 4607, 4888, 4892-93, 4970. 4979, 4981 See also ENFORCEMENT-Individual retirement accounts, penal- FIDUCIARY RESPONSIBILITY-Continued Prohibited transaction rules-Continued Party in interest dealing: Furnishing or acquisition of goods or services_. Generally Pages in 42-43 171, 308-09, 568, 727, 966, 1167, 1442, 1460, 2287, 3776-77, 3950-51, Loans or credit__ Receipt of consideration for personal account_. 42-43, Sale, exchange or lease of property- 42-43, 171, 308, 567, 966-67, 1148, 1165-66, 1450, 1460-61, 1728, 2286-87, Self-dealing 42, 171, 308, 567, 966, 1076, 1167, 1443, 1461, 1728, 2286, 2368, 3300, Transfer or use of trust income or assets__ 171-72, 308-309, 568, 966, 1167, 1442, 1460, 3776, 3787, 4575–76, 4788, 4796, Variances: See: Employer securities and real property-divestment schedule. Prohibited transaction rules-exemptions from. Removal of fiduciary: See: ENFORCEMENT-Fiduciary standards-civil enforcement. Regulations/rules, general authority: 108, 172, 309, 318, 500, 568, 957, 1443, 1558, 1726-29, 1856, 2291, 2295, Secretary of the Treasury.... 372, 979, 1727-29, 1856, 1858, 3978, 4759 Standards for fiduciary conduct: 42, 170, 176, 307-08, 312-13, 566, 572, 949, 1172, 1441-42, 1448-49, 1456, 620, 633, 1849, 1872, 2285, 2368, 3300, 3309-10, 3379, 3474, 3495–96, Diversification requirement-- Exclusive benefit requirement--. 170, 307, 313-14, 616, 632, 946-47, 1076, 1099-1100, 1162, 1455, 1726, Holding other positions_- Indicia of ownership outside the United States-- Prudent man rule. 43-44, 173, 309-10, 569, 971, 1169, 1464, 1729, 2284, 2288, 3791-92, 3952–53, Purposes of.. 25-028 O 763 (Vol. III) FIDUCIARY RESPONSIBILITY-Continued Prohibited transaction rules-Continued Party in interest dealing: Furnishing or acquisition of goods or services. Pages in Legislative History 42-43 171, 308-09, 568, 727, 966, 1167, 1442, 1460, 2287, 3776–77, 3950-51, Generally Loans or credit_. 171, 308, 567, 966, 1166, 1442, 1460, 3776, 3787, 4575, 4788, 4796, 4886, 4978 Receipt of consideration for personal account_ 42-43, 171, 180, 308, 557, 566, 600, 632-33, 966-67, 1167, 1443, 1461, 1728, 2286, 2368, 3300, 3379, 3776, 3788, 3950-51, 4562, 4576, 4743, 4886, 4978 Sale, exchange or lease of property 42-43, 171, 308, 567, 966-67, 1148, 1165-66, 1450, 1460-61, 1728, 2286-87, 2368, 3379, 3775-76, 3780-81, 3787, 3789, 3950-51, 4574-75, 4788, 4796, 4886-87, 4978 42, Self-dealing 171, 308, 567, 966, 1076, 1167, 1443, 1461, 1728, 2286, 2368, 3300, 3370, 3473, 3776, 3787, 3950, 4561-62, 4743, 4886, 4978 171-72, 308-309, 568, 966, 1167, 1442, 1460, 3776, 3787, 4575-76, 4788, 4796, 4886, 4978 Transfer or use of trust income or assets_. Variances: See: Employer securities and real property-divestment Prohibited transaction rules-exemptions from. Removal of fiduciary : See: ENFORCEMENT-Fiduciary standards-civil enforcement. Regulations/rules, general authority: 108, 172, 309, 318, 500, 568, 957, 1443, 1558, 1726-29, 1856, 2291, 2295, 2301, 2339, 2374, 3304, 3741-42, 3776, 3785, 3788, 3962-63, 3970, 4050-51, 4572-73, 4592, 4759, 4842, 4887-89, 4901 Secretary of the Treasury__ 372, 979, 1727-29, 1856, 1858, 3978, 4759 Standards for fiduciary conduct: 42, 170, 176, 307–08, 312-13, 566, 572, 949, 1172, 1441-42, 1448-49, 1456, 1464, 2286, 2360, 3308-09, 3773, 3778-79, 3791, 3950, 4884 42, 620, 633, 1849, 1872, 2285, 2368, 3300, 3309-10, 3379, 3474, 3495-96, 3950, 4561, 4571-72, 4677-78, 4780-81, 4788, 4884 41-42, Diversification requirement... Exclusive benefit requirement- 170, 307, 313–14, 616, 632, 946-47, 1076, 1099-1100, 1162, 1455, 1726, 2284-85, 3300, 3370, 3378-79, 3474, 3495-96, 3772-73, 3948, 3950, 4561-62, 4569-70, 4759, 4803, 4883-84 Holding other positions__. 43-44, 173, 309-10, 569, 971, 1169, 1464, 1729, 2284, 2288, 3791-92, 3952–53, 4579, 4892, 4981 Indicia of ownership outside the United States.. Prudent man rule_. 171, 568, 617, 967, 1067-68, 1727, 1857, 4573, 4796, 4884 42, 170, 307-08, 566, 617, 632, 949, 966, 1169, 1172-73, 1441, 1456, 1604, 1726-27, 2285, 2360, 2368, 3300, 3307, 3309-10, 3370, 3378-79, 3773, 3950, 4561-62, 4568-71, 4574, 4677-78, 4743, 4759, 4780-81, 4788, 4813, 4884 588, 613, 615-16, 632, 2358, 2360, 3297, 3375, 3399, 3464, 3493, 3498, 3582, 3590, 4660-61, 4668, 4734, 4752, 4780-81, 4795, 4800, 4825 Purposes of--- 25-028 O 763 (Vol. III) |