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Disqualified Person

Definition of "Disqualified person"

Individual prohibited under the employee retirement income security act of 1974 (erisa) from conducting transactions with a trust plan. The prohibition is intended to prevent a conflict of interest between the prohibited person with a vested interest in the trust plan and the trust plan itself. Prohibited individuals include employer, trust plan participant, trustee of the plan, and fiduciary of the trust plan.

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