Party-in-interest transactions

Term · Insurance and risk management · MLC-T-INS-002507

Financial dealings between an employee benefit plan and individuals or entities closely connected to it, known as parties-in-interest. These parties include fiduciaries, service providers, the sponsoring employer, and certain relatives or affiliates. The Employee Retirement Income Security Act (ERISA) prohibits most of these transactions, such as loans or the sale of property between the plan and a party-in-interest, unless a specific statutory or administrative exemption applies.

Table 1. Record
Identifier	MLC-T-INS-002507
Field	Insurance and risk management
Subject	Employment Practices Liability

Record as JSON

{
  "id": "MLC-T-INS-002507",
  "term": "Party-in-interest transactions",
  "field": "Insurance and risk management",
  "definition": "Financial dealings between an employee benefit plan and individuals or entities closely connected to it, known as parties-in-interest. These parties include fiduciaries, service providers, the sponsoring employer, and certain relatives or affiliates. The Employee Retirement Income Security Act (ERISA) prohibits most of these transactions, such as loans or the sale of property between the plan and a party-in-interest, unless a specific statutory or administrative exemption applies.",
  "subject": "Employment Practices Liability",
  "url": "https://mlchart.com/terminology/insurance/party-in-interest-transactions/"
}

Record 2,508 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.