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Text of DOL Advisory Opinion 2012-05A on 'Employer Real Property' Contributed To, or Sold By, the Employer's Defined Benefit Plan
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL] Link to more items from this source
[Official Guidance]
Aug. 2, 2012

"The purpose of requiring that a substantial number of the parcels of employer real property held by a plan be dispersed geographically is to prevent adverse economic conditions peculiar to one area from significantly affecting the economic status of the plan as a whole.... Whether a substantial number of parcels of employer real property are geographically dispersed for this purpose is an inherently factual determination upon which the Department will not opine. However, it is the view of the Department that whether any one parcel of employer real property ... satisfies the requirements of section 407(d)(4)(A) of ERISA is determined by considering the plan's holdings in employer real property immediately after the transaction involving the parcel. Otherwise, a plan could never acquire or sell any single parcel of employer real property even if the other QERP requirements of section 407 of ERISA, besides section 407(d)(4)(A), would be met for the plan's holdings after the acquisition or sale."

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