This Employee Benefit Plan Audit Quality Center (EBPAQC) primer provides a general understanding of employee benefit plan parties in interest and prohibited transactions under the Employee Retirement Income Security Act of 1974 (ERISA). This primer explains how a party in interest under ERISA may differ from a related party as that term is defined by GAAP.
This primer discusses:
Party in interest transactions that are prohibited under ERISA and administrative actions of the Department of Labor (DOL), as well as