A Standard Clause providing sample language for typical ERISA provisions in a limited partnership agreement (LPA) for a private equity fund. It addresses the investor's status as a plan governed by the Employee Retirement Income Security Act of 1974 (ERISA), benefit plan investor status under ERISA's plan asset rules, as well as transfer and withdrawal restrictions that apply for ERISA plan investors. This Standard Clause has integrated notes with important explanations and drafting tips.