EMPLOYEE BENEFITS SECURITY ADMINISTRATION ISSUES NOTICE: EXEMPTION INVOLVING THE ABIOMED RETIREMENT SAVINGS PLAN LOCATED IN DANVERS, MA

WASHINGTON, Sept. 17 -- Employee Benefits Security Administration has issued a notice called: Exemption Involving the Abiomed Retirement Savings Plan Located in Danvers, MA.

The notice was published in the Federal Register on Sept. 17 by Christopher Motta, Acting Director, Office of Exemption Determinations, Employee Benefits Security Administration, U.S. Department of Labor.

Summary: This exemption allows the Abiomed Retirement Savings Plan (the Plan) to acquire and hold certain "contingent value rights" and to receive payments in connection with that acquisition and holding. Absent an exemption, these transactions would violate the prohibited transaction provisions of the Employee Retirement Income Security Act of 1974 (ERISA) and/or th...