Assets designated for the exclusive purpose of satisfying the retiree group benefits program obligations. Examples include the following:
CreativeMinds WordPress Plugin ASB Glossarya. life insurance policies held by the plan sponsor to cover some of the plan sponsor’s retired participant death benefits;
b. welfare benefit trusts (for example, voluntary employees’ beneficiary associations);
c. Internal Revenue Code section 401(h) accounts in a qualified pension plan; and
d. Internal Revenue Code section 115 trusts sponsored by governmental entities for retiree group benefits. (ASOP No. 6)