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No legal list for World Bank bond investments
Summary Asked whether World Bank bonds were lawful investments for multiemployer plans, DOL said it did not maintain a legal list. It said plan fiduciaries had to judge prudence in light of the investment’s character and the plan’s nature and aims under ERISA section 404(a). The opinion makes no finding that the particular bonds were prudent.
Document
Federal opinion letter
Agency
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Document number
P/OPINION 75-83
Date issued
July 15, 1975
Status
Unknown
EBSA's index does not mark withdrawn or superseded opinions; still posted on dol.gov as of 2026-10-26.
Status last verified October 26, 2026
Topics
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About this page: The full text below is the official document from U.S. Department of Labor, Employee Benefits Security Administration (EBSA). Ezel adds the plain-English summary and tracks the document's status. The official source linked on this page is authoritative for any reliance.
P/OPINION 75-83
404
July 15, 1975
Dear :
In response to your letter of April 21, 1975, requesting
an opinion with respect to whether World Bank Bonds
are legal investments for multiemployer plans, the party
making the inquiry should be informed that the Department
of Labor does not maintain a "legal list" of investments
for plans and that whether an investment is prudent must
be determined by a plan fiduciary in light of the nature
of the investment and the character and aims of the plan,
applying the standards set forth in section 404(a) of the
Employee Retirement Income Security Act of 1974.
Sincerely,
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