Blogging Employee Benefits

January 21, 2006

Divisions of Insurer’s Separate Account Are ERISA Separate Accounts

Filed under: DOL, Investment — Fuguerre @ 8:37 am

Realized and unrealized gains and losses attributable to each Division of an insurer’s pooled separate account are credited or charged to the assets invested within that Division, each of which has its own different investment objective or style. Accordingly, each Division is considered a “separate account” as defined by ERISA section 3(17), according to the Employee Benefits Security Administration. [Advisory Opinion 2005-22A, 12/7/05]

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