The WBP trust's assets are owned by the trust, not by the employer; any use of the assets by the employer for its own benefit or for the benefit of a related entity would be a party-in-interest transaction that violates ERISA Section 406(a)(1)(D).
What does FBO stand for?
FBO stands for For the Benefit Of (finance)
This definition appears very frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of FBO
We have 40 other meanings of FBO in our Acronym Attic
- Fixed Base Operator
- Fixed Buyout (certificate)
- Fixed-Based Operator (aviation, commercial)
- Flag Banking Officer (Church of Scientology)
- Flagstaff Biking Organization (Flagstaff, AZ)
- Food Business Operator
- For Benefit Of
- For Best Offer (classified ads)
- For Brokers Only (insurance)
- Foreign Banking Organization (finance)
- Foreign Body Obstruction
- Foreign Buildings Office
- Foreign Buildings Operations
- Framebuffer Object (digital imaging tool)
- Friendly by Origin
- Full Body Orgasm (Reichian psychology)
- Furnished by Others (construction bidding)
- Furnished by Owner (construction bidding)
- Federal Bank Officers Association (est. 1966; trade union; India)
Samples in periodicals archive:
This agreement with Benefit Informatics is another example of our commitment to leveraging new technologies for the benefit of our customers," said Tom Sax, CEO of EPOCH.
In Spinks view, this arrangement involved the use of existing plan assets to pay off potential discrimination claims against Lockheed as an employer, thus, plan assets were used for the benefit of Lockheed, a party in interest, not plan participants, constituting a prohibited transaction with a party in interest, a per se violation of ERISA Section 406(a)(1)(D).