Exemption for Certain Prohibited Transactions Involving the International Brotherhood of Electrical Workers Local Union No. 99 Joint Apprenticeship Training Fund (the Fund or the Applicant) Located in Cranston, Rhode Island

This exemption permits the International Brotherhood of Electrical Workers Local Union No. 99 Joint Apprenticeship Training Fund (the Fund) to purchase certain improved real property located at 40 Western Industrial Drive, Cranston, Rhode Island (the Property) from Local Union 99 Realty Corporation (Realty Corp), an entity that is 100% owned and controlled by IBEW Local 99 (the Union), a party in interest with respect to the Fund. Absent an exemption, this transaction would violate the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA).

This is a factual description of what was issued or decided, not an assessment of it.