§1108. Exemptions from prohibited transactions — Inbound Citations
29 U.S.C. § 1108
Cited by 8 provisions in release 119-102.
Citations to 29 U.S.C. § 1108 as a whole
-
(iv) amounts paid directly or indirectly in rebates, fees, or any other type of compensation (as defined in section 408(b)(2)(B)(ii)(dd)(AA) of the Employee Retirement Income Security Act1 (29 U.S.C. 1108(b)(2)(B)(ii)(dd)(AA)) to brokerage firms, brokers, consultants, advisors, or any other individual or firm, for—(I) the referral of the group health plan’s business to an entity providing pharmacy benefit management services, including the identity of the recipient of such amounts;(II) consideration of the entity providing pharmacy benefit management services by the group health plan; or(III) the retention of the entity by the group health plan;
-
(a) Except as provided in section 1108 of this title:(1) A fiduciary with respect to a plan shall not cause the plan to engage in a transaction, if he knows or should know that such transaction constitutes a direct or indirect—(A) sale or exchange, or leasing, of any property between the plan and a party in interest;(B) lending of money or other extension of credit between the plan and a party in interest;(C) furnishing of goods, services, or facilities between the plan and a party in interest;(D) transfer to, or use by or for the benefit of a party in interest, of any assets of the plan; or(E) acquisition, on behalf of the plan, of any employer security or employer real property in violation of section 1107(a) of this title.(2) No fiduciary who has authority or discretion to control or manage the assets of a plan shall permit the plan to hold any employer security or employer real property if he knows or should know that holding such security or real property violates section 1107(a) of this title.
-
(iv) amounts paid directly or indirectly in rebates, fees, or any other type of compensation (as defined in section 1108(b)(2)(B)(ii)(dd)(AA) of this title) to brokerage firms, brokers, consultants, advisors, or any other individual or firm, for—(I) the referral of the group health plan’s or health insurance issuer’s business to an entity providing pharmacy benefit management services, including the identity of the recipient of such amounts;(II) consideration of the entity providing pharmacy benefit management services by the group health plan or health insurance issuer; or(III) the retention of the entity by the group health plan or health insurance issuer;
-
(iv) amounts paid directly or indirectly in rebates, fees, or any other type of compensation (as defined in section 1108(b)(2)(B)(ii)(dd)(AA) of title 29) to brokerage firms, brokers, consultants, advisors, or any other individual or firm, for—(I) the referral of the group health plan’s or health insurance issuer’s business to an entity providing pharmacy benefit management services, including the identity of the recipient of such amounts;(II) consideration of the entity providing pharmacy benefit management services by the group health plan or health insurance issuer; or(III) the retention of the entity by the group health plan or health insurance issuer;
Citations to §1108(b)(2)
-
(B) The amounts paid by a plan to a fund shall be deemed a reasonable expense of administering the plan under sections 1103(c)(1) and 1104(a)(1)(A)(ii) of this title, and the payments made by a fund to a participating plan shall be deemed services necessary for the operation of the plan within the meaning of section 1108(b)(2) of this title or within the meaning of section 4975(d)(2) of title 26.
Citations to §1108(b)(5)
-
(A) that a plan fiduciary totally independent of the insurer authorize the purchase of such policy (unless such purchase is a transaction exempt under section 1108(b)(5) of this title),
-
(1) The term “employer security” means a security issued by an employer of employees covered by the plan, or by an affiliate of such employer. A contract to which section 1108(b)(5) of this title applies shall not be treated as a security for purposes of this section.
Citations to §1108(e)
-
(B) For exemption from prohibited transactions for certain acquisitions of qualifying employer securities and qualifying employer real property which are not in violation of 10 percent limitation, see section 1108(e) of this title.