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OCR: A-109 and they concur in the position set forth above as it relates to section 4975 of the Code to the extent the asset5 managed are assets of a plan or plans as defined by section 4975{e}1} of the Code In order to compensate those board members who are profestors or administrative officers of participating institutions CREF must obtain an exemption from the prohibitions sections 406(a)(l)(C} and and 406(b)(1} and the The 1978 foregoing at the was Service At discussed your at a request. conference and held attend+d by February 21 Mr William F Heller, Assist ant General Counsel of CREF, and representatives of the Department and the Service This letter constitutes an advisory opinion under ERISA Pro- letter cedure 76-1 issued {f} FR subject 36281 -he August Procedure 27. 1976). ineluding Acc ...