PTE for director who would provide investment services?

[Guest mbg76]

Does anyone know if a prohibited transaction exemption exists for a company director who would like to provide investment advice for the company's pension plan trust? The director is not a member of the plan committee and is not an employee of the company.

[jpod]

Assuming it is a pt in the first place, and that's kind of hard to evaluate without all the facts, if it is a 406(a) pt, the service-provider exemption may be applicable. If it's a 406(b) pt, there is no statutory or class exemption. The fact that the director is neither on the "plan committee" (whatever that is) nor an employee does not necessarily mean there is no pt.