employee benefit plan
(4) Coverage for certain employee benefit plan deposits (A) Pass-through insurance The Administration shall provide pass-through share insurance for the deposits or shares of any employee benefit plan. (B) Prohibition on acceptance of deposits An insured credit union that is not well capitalized or adequately capitalized may not accept employee benefit plan deposits. (C) Definitions For purposes of this paragraph, the following definitions shall apply: (i) Capital standards The terms “well capitalized” and “adequately capitalized” have the same meanings as in section 1790d(c) of this title . (ii) Employee benefit plan The term “employee benefit plan”— (I) has the meaning given to such term in section 1002(3) of title 29 ; (II) includes any plan described in section 401(d) of title 26 ; and (III) includes any eligible deferred compensation plan described in section 457 of title 26 . (iii) Pass-through share insurance The term “pass-through share insurance” means, with respect to an employee benefit plan, insurance coverage based on the interest of each participant, in accordance with regulations issued by the Administration. (D) Rule of construction No provision of this paragraph shall be construed as authorizing an insured credit union to accept the deposits of an employee benefit plan in an amount greater than such credit union is authorized to accept under any other provision of Federal or State law.