Mike Kelly owns Mike Kelly Construction Company. Mike Kelly is also the Trustee of the Company 401(k)

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Mike Kelly owns Mike Kelly Construction Company. Mike Kelly is also the Trustee of the Company 401(k) plan. The 401(k) Plan made a loan to the Company totaling $120,000. Does the loan constitute a prohibited transaction under ERISA?

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Advanced Accounting

ISBN: 978-1118037911

1st Canadian Edition

Authors: Gail Fayerman

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Posted Date: Apr 02, 2024 04:02 AM

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Mike Kelly owns Mike Kelly Construction Company. Mike Kelly is also the Trustee of the Company 401(k)

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Under the Employee Retirement Income Security Act of 1974 ERISA certain transactions between a retir... View the full answer

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