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Charitable Marijuana

Charitable Marijuana

July 31, 2012

Authored by: Nathan Boyce

In PLR 201224036, the organization at issue was dedicated to providing education about using “cannabis as medical therapy” and to providing “safe, legal access to cannabis.” The law of the state apparently allowed such use when prescribed by a doctor. The organization also provided:  

  • information about how to ingest cannabis
  • recipes that include cannabis
  • instructions to grow your own cannabis
  • grading services for homegrown cannabis

In order to pay for the cannabis, members pay a “suggested donation price” in cash or in exchange for

QDIAs and Affirmative Investment Elections

July 20, 2012

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From BenefitsBryanCave.com

In Bidwell v. University Medical Center, Inc., the Sixth Circuit ruled that an employer was not liable for resulting financial losses when it transferred assets in participants’ retirement plan accounts from a stable value fund to a Qualified Default Investment Alternative (“QDIA”) even though the participants had previously elected the stable value fund.  For those unfamiliar, QDIAs are funds in which a participant’s account can be invested if the participant fails to give investment direction.  QDIAs are designated by the plan administrator and have greater risk (and thus the potential for greater returns) than stable value or similar conservative funds, which may not keep pace with inflation.  The plan administrator is protected from having to make participants whole for investment losses for amounts invested in QDIAs, provided the procedural rules of the regulations are followed.

In the case,