Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance > Health Insurance

ERISA Exemption Sought

X
Your article was successfully shared with the contacts you provided.

An arm of the U.S. Department of Labor wants to let a new health plan for General Motors employees invest in General Motors securities.

The Employee Benefits Security Administration has published a notice of its intent to let the GM retirees’ “employees’ beneficiary association,” or VEBA, keep some GM securities. EBSA is seeking the prohibited transaction exemption to give the plan the ability to handle errors and to keep some securities obtained before General Motors filed for bankruptcy.