SEC Turns Up the Heat on 401(k) Fiduciaries
Darren E. Nadel and Steven J. Friedman of Littler Mendelson, P.C.
This is not an easy time to be a 401(k) plan fiduciary. With frightening regularity, attacks have been launched by government agencies and plan participants, some successfully, at fiduciaries. And never has the group of potential plan fiduciaries been so large. In fact, quite recently courts have defined plan fiduciaries to encompass an array of corporate employees who range from those who are responsible for the administration of the 401(k) plan to the highest levels of the corporation.
ESOPs and S Corporations: Potentially a Winning Combination
R. Neal Keesee of Woods Rogers PLC
The concept of employees owning stock in their employer is not new. In 1974, Congress enacted the Employee Retireme.
Compliance Update: The Voluntary Fiduciary Compliance Program
J. Rene Toadvine of Littler Mendelson, P.C.
The Department of Labor recently revised its Voluntary Fiduciary Correction Program (VFCP). Adopted by the U.S. Department of Labor (DOL) to encourage plan fiduciaries to comply with the provisions of ERISA by providing relief from certain penalties and enforcement actions, VFCP permits employers to proactively remedy fiduciary violations under ERISA by taking prescribed remedial actions. If a plan fiduciary complies with the requirements under VFCP, the plan fiduciary may correct certain specified fiduciary breach transactions and receive a "no action" letter from the DOL.
Self-directed Investment Options in 401(k) Plans: Legal and Fiduciary Issues
Pillsbury Winthrop Shaw Pittman LLP
What is a Self-Directed Option? As an extension of the continuing trend toward expanded participant investment .
Fallout from the Enron Debacle: How Should Employers Respond to the Threat of 401(k) Participant Class Actions?
Linda K. Shore of Buchanan Ingersoll & Rooney PC
The Enron bankruptcy has provoked a flurry of activity by employers, legislators, and class action lawyers. Current and former Enron employees have filed class action suits, the first of which is scheduled to begin trial in December 2003, alleging that Enron and other plan fiduciaries breached their fiduciary responsibilities to Enron's 401(k) plan.
The Benefits of an Employee Stock Ownership Plan (ESOP)
Broad and Cassel
An Employee Stock Ownership Plan ("ESOP") is a defined contribution employee benefit plan that invests primarily in.
Plan Trustees Must Act Prudently in Resigning
Rosenman & Colin LLP
The Third Circuit has recently ruled that a plan trustee has a fiduciary duty to disclose to plan participants its .
DOL Issues Opinions on Mutual Fund Alliances
Rosenman & Colin LLP
Last month, the Department of Labor ("DOL") issued two advisory opinions regarding the receipt of fees by.
Innovative Uses of ESOPs In Estate Planning For Business Owners
Louis H. Diamond of Buchanan Ingersoll & Rooney PC
Table of Contents I. Introduction II. What Is An ESOP? A. Employee Stock Ownership Plans (ESOP.
P&I Ranks Largest Funds
Stephen H. Cypen of Cypen & Cypen
Following its annual tradition, Pensions & Investments has listed the nation's 1,000 largest employee benefit f.
The MACPA Statement Fair Market Value In ESOP Transactions--A Moving Target
Louis H. Diamond of Buchanan Ingersoll & Rooney PC
Background Employee Stock Ownership Plans (ESOPs) present outstanding planning potential for your corporate clien.
Now That 404(c) Is Here, What Do I Do with It?
Pillsbury Winthrop Shaw Pittman LLP
The Department of Labor issued final regulations under section 404(c) of ERISA at the end of 1992, effective for 1.