[Code of Federal Regulations]
[Title 29, Volume 9]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR2520.104-24]

[Page 413]
 
                             TITLE 29--LABOR
 
 CHAPTER XXV--EMPLOYEE BENEFITS SECURITY ADMINISTRATION, DEPARTMENT OF 
                                  LABOR
 
PART 2520_RULES AND REGULATIONS FOR REPORTING AND DISCLOSURE
--Table of Contents
 
    Subpart D_Provisions Applicable to Both Reporting and Disclosure 
                              Requirements
 
Sec. 2520.104-24  Exemption for welfare plans for certain selected 
employees.

    (a) Purpose and scope. (1) This section, under the authority of 
section 104(a)(3) of the Employee Retirement Income Security Act of 
1974, exempts unfunded or insured welfare plans maintained by an 
employer for the purpose of providing benefits for a select group of 
management or highly compensated employees from the reporting and 
disclosure provisions of part 1 of title I of the Act, except for the 
requirement to provide plan documents to the Secretary of Labor upon 
request under section 104(a)(1) of the Act.
    (2) Under section 104(a)(3) of the Act, the Secretary is authorized 
to exempt by regulation any welfare benefit plan from all or part of the 
reporting and disclosure requirements of title I of the Act.
    (b) Exemption. Under the authority of section 104(a)(3) of the Act, 
each employee welfare benefit plan described in paragraph (c) of this 
section is exempted from the reporting and disclosure provisions of part 
1 of title I of the Act, except for providing plan documents to the 
Secretary of Labor upon request as required by section 104(a)(6).
    (c) Application. This exemption is available only to employee 
welfare benefit plans:
    (1) Which are maintained by an employer primarily for the purpose of 
providing benefits for a select group of management or highly 
compensated employees, and
    (2) For which benefits (i) are paid as needed solely from the 
general assets of the employer, (ii) are provided exclusively through 
insurance contracts or policies, the premiums for which are paid 
directly by the employer from its general assets, issued by an insurance 
company or similar organization which is qualified to do business in any 
State, or (iii) both.

[40 FR 34533, Aug. 15, 1975, as amended at 67 FR 776, Jan. 7, 2002]