Search for: "Benefits Plans Investment Committee of the Company"
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14 Mar 2021, 5:00 pm
That act is no different in substance from the act taken by those same executives when they convene a meeting of the company’s 401(k) plan administrative committee to select a recordkeeper for the 401(k) plan. [read post]
20 Jun 2023, 5:58 pm
Kevin LaCroix reports that: On June 2, 2023, an American Airlines pilot filed an ERISA class action lawsuit in the Northern District of Texas against American Airlines; the American Airlines Employee Benefits Committee; the company’s benefits plan administrator; and the company’s benefits plan advisor. [read post]
28 Jul 2021, 5:00 pm
The Acme Rocket Sled Company Retirement Plan Administration Committee recently selected a new investment advisor for the company’s 401(k) plan. [read post]
17 Apr 2012, 10:05 pm
A Fellow in the American College of Employee Benefit Council, immediate past Chair of the American Bar Association (ABA) RPTE Employee Benefits & Other Compensation Group and current Co-Chair of its Welfare Benefit Committee, Vice-Chair of the ABA TIPS Employee Benefits Committee, a council member of the ABA Joint Committee on Employee Benefits, and past Chair of the ABA Health Law Section Managed Care & Insurance… [read post]
4 Dec 2019, 8:33 am
In WPN, the Department of Labor alleged that the Retirement Committee for two plans sponsored by Wheeling Corrugating Company and its affiliates (the “Retirement Committee”) breached its fiduciary duty by failing to monitor the investment fiduciary appointed to manage plan assets (the “Investment Manager”) and failing to remove the Investment Manager when it did not follow instructions from the Retirement… [read post]
18 Feb 2014, 5:37 am
In many cases, the auditor doesn’t even express an opinion on the financial statements – there are provisions within ERISA that allow the plan sponsor to limit the scope of the audit to exclude work on investments, investment income and investment transactions if the investments are certified by a qualified institution (a bank, an insurance company or a regulated trust company.) [read post]
31 Jul 2013, 5:10 pm
New litigation against the former trustee and former investment service provider of four pension plans reminds employer or other employee benefit plan sponsors, business owners or management, investment advisors and others serving as fiduciaries or advisors of employee benefit plans of the need to ensure that employee benefit plans are only used for the benefit of participants and beneficiaries, and prudently… [read post]
30 Oct 2019, 10:00 am
The argument next week in Retirement Plans Committee of IBM v. [read post]
23 May 2012, 3:07 pm
A Fellow in the American College of Employee Benefit Council, immediate past Chair of the American Bar Association (ABA) RPTE Employee Benefits & Other Compensation Group and current Co-Chair of its Welfare Benefit Committee, Vice-Chair of the ABA TIPS Employee Benefits Committee, a council member of the ABA Joint Committee on Employee Benefits, and past Chair of the ABA Health Law Section Managed Care & Insurance… [read post]
6 Feb 2019, 11:58 am
Update your investment policy if you invest in socially responsible investments to capture recent DOL guidance so that the company’s effort to be socially responsible does not result in a breach of fiduciary duty. [read post]
5 Dec 2019, 11:17 am
In WPN, the Department of Labor alleged that the Retirement Committee for two plans sponsored by Wheeling Corrugating Company and its affiliates (the “Retirement Committee”) breached its fiduciary duty by failing to monitor the investment fiduciary appointed to manage plan assets (the “Investment Manager”) and failing to remove the Investment Manager when it did not follow instructions from the Retirement… [read post]
25 Apr 2023, 5:00 pm
A DB Plan Sponsor also may seek annuity bids from insurance companies to purchase guaranteed annuity contracts to provide benefits to retired and terminated vested participants. [read post]
17 Mar 2011, 9:37 am
The Committee also recommended that companies arm themselves with knowledge of whether the investment options in their defined contribution retirement plans engaged in securities lending. [read post]
4 Dec 2019, 8:33 am
In WPN, the Department of Labor alleged that the Retirement Committee for two plans sponsored by Wheeling Corrugating Company and its affiliates (the “Retirement Committee”) breached its fiduciary duty by failing to monitor the investment fiduciary appointed to manage plan assets (the “Investment Manager”) and failing to remove the Investment Manager when it did not follow instructions from the Retirement… [read post]
16 Sep 2014, 8:36 pm
The menu of options open to the employees is chosen by the plan’s investment committee, supervised by the plan manager. [read post]
7 Nov 2019, 3:34 am
On the other hand, the insider’s position as a fiduciary of the pension plan gives the insider an obligation to act for the benefit of the employees whose pensions are being invested in the company’s stock. [read post]
31 Jul 2012, 8:17 am
For many financially strapped businesses that sponsor defined benefit plans, the MAP-21 relief may allow the employer to avoid terminating its defined benefit plan, escape costly underfunding consequences that many defined benefit plan sponsors fear will financially cripple or bankrupt their companies, or both. [read post]
14 Jan 2020, 12:47 pm
My analysis of the November argument in Retirement Plans Committee of IBM v. [read post]
12 Apr 2016, 3:50 pm
Employer and other employee benefit plan sponsors, benefit plan committees and fiduciaries, and the broker-dealers, financial advisors, insurance agents and other plan service providers that provide investment-related platforms, advice, recommendations or other services for employee benefit plans need to reevaluate the fiduciary status of their service providers and begin restructuring as necessary their associated… [read post]
12 Apr 2016, 3:50 pm
Employer and other employee benefit plan sponsors, benefit plan committees and fiduciaries, and the broker-dealers, financial advisors, insurance agents and other plan service providers that provide investment-related platforms, advice, recommendations or other services for employee benefit plans need to reevaluate the fiduciary status of their service providers and begin restructuring as necessary their associated… [read post]
