For ALIAC, they vow to exceed expectations as they look to make an immediate impact in the bustling league.
"We encourage our bright athletes to exude qualities of a sportsman and the spirit of fair play as they display their athletic skills in the arena of friendly competition," said ALIAC president and CEO Atty.
ALIAC is formally welcomed in ISAA in a formal ceremonies held at ALIAC campus.
"I am very overwhelmed by the aspirations and expectations of the ALIAC with regard to the ISAA," he added.
" For ALIAC, they vowed to exceed expectations as they look to make an immediate impact in the bustling league.
"We are praying that ISAA's thrive increases the 'aliah' spirit in the hearts of the ALIAC community."
ALIAC sought an advisory letter that ERISA Section 406(b)(3), barring fiduciaries from benefiting from others who transact with a plan, is not violated by the receipt of fees from the unrelated funds.
DOL Advisory Opinion 97-16A first examines whether the receipt of such fees by ALIAC violates ERISA Section 406(b)(3) if ALIAC is a fiduciary as to the investing plans.
Under these provisions, the DOL concludes that the question of whether ALIAC is an ERISA "fiduciary" is inherently factual and depends on the particular actions or functions ALIAC performs on behalf of the plans.