Exception for Venture Capital Operating Companies under the ERISA Plan Assets Regulation

Summary

This practice note provides a brief summary of the rules applicable to “venture capital operating companies” (VCOCs) and “real estate operating companies” (REOCs) under the regulation (the Regulation) issued by the U.S. Department of Labor (DOL) defining “plan assets” under the Employee Retirement Income Security Act (ERISA). 29 C.F.R. § 2510.3-101. In addition, this practice note will describe briefly the 25% test also available under ERISA.