Discretionary Transaction Law and Legal Definition
A Discretionary Transaction shall mean a transaction pursuant to an employee benefit plan that:
a. is at the volition of a plan participant;
b. is not made in connection with the participant's death, disability, retirement or termination of employment;
c. is not required to be made available to a plan participant pursuant to a provision of the Internal Revenue Code; and
d. results in either an intra-plan transfer involving an issuer equity securities fund, or a cash distribution funded by a volitional disposition of an issuer equity security. [17 CFR 240.16b-3].
Legal Definition list
Related Legal Terms
- ABC Transaction [Oil & Gas]
- Agency Transaction (Securities)
- Alternative Mortgage Transaction [Banks & Banking]
- Arms Length Transaction
- Asset Exchange or Conversion Transaction
- Automated Transaction
- Basket Transactions
- Bona Fide Hedging Transactions and Positions
- Colorable Transaction
- Commodity Option Transaction
