In May we discussed how the United Auto Workers union would eventually Get a Stake in Chrysler and General Motors and compared the differences between VEBA Ownership and Employee Ownership. The DOL has announced a proposed Individual Exemption Involving General Motors that would allow a General Motors health plan for retirees to acquire company securities. Normally a large transfer of employer securities to a non-ESOP retirement plans would violate ERISA. This exemption allows GM and its health plans to reimburse each other and for GM to recover mistaken deposits. As part of the exemption, an independent fiduciary will be appointed to represent the plan to ensure that all actions are taken in the interests of the plan participants and beneficiaries. An independent third party administrator and an auditor will also be involved in the process.