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9 Jan 2018, 7:42 am by Greg Daugherty
By Greg Daugherty In recent years, the Department of Labor (DOL) has had a laser-like focus on valuation issues when privately held companies establish employee stock ownership plans (ESOP). [read post]
17 Feb 2020, 12:37 pm by CharlesB
Four members serve by virtue of their positions in the Federal Government: the Secretary of the Treasury, who is the Managing Trustee; the Secretary of Labor; the Secretary of Health and Human Services; and the Commissioner of Social Security. [read post]
17 Jan 2017, 4:00 pm by Sabrina I. Pacifici
In this blog post, we explain those updates and compare them with the agency’s previous projections and with those of the Social Security Trustees. [read post]
4 Aug 2014, 5:11 am
A recent court decisions and the Settlement Agreement in a Department of Labor (DOL) enforcement action against an institutional ESOP trustee provide new guidelines for trustees and other ESOP fiduciaries involved in the purchase or sale of company stock. [read post]
2 Mar 2023, 9:05 pm by renholding
The current battle between ESG and anti-ESG advocates, and the introduction of legislation at the state level trying to redefine the fiduciary duties of pension trustees, is just the latest round in a series of fights over pensions that go back to the 1970s. [read post]
Notwithstanding the fact that ERISA and state pension codes command trustees to invest, “solely in the interests of participants and beneficiaries and for the exclusive purpose of providing benefits,” the United States Department of Labor declared in 2008 that the plain text of the quoted language means that the interests of the plan come first. [2] Under this view, plan trustees should de facto ignore the potentially negative jobs impact of privatizing… [read post]
1 Mar 2012, 3:24 pm by Shahram Miri
Hence, it is not as if the trustee has to labor through hours of tedious bookkeeping just to formulate an accounting. [read post]
19 Jan 2011, 6:48 am by Stanley D. Baum
Board of Trustees of the Indiana Laborer's Pension Fund, Nos. 09-3897/4204 (6th Cir. 2011), the Court faced several complex issues arising under ERISA. [read post]
1 Aug 2016, 9:42 pm by Cynthia Marcotte Stamer
[b]oard meeting with respect to the discussion of Robbins’ contact with the [Department of Labor]” and “created an environment that was hostile to her,” which “caused the trustees to vote to place her on leave. [read post]
12 Aug 2007, 9:18 am by Dean T. Kirby, Jr.
The trustee would be without the ability to deliver a covenant not to compete to a buyer. [read post]
16 Jun 2009, 5:24 am
In Solis, the Secretary of the Department of Labor (the "Secretary") brought an action against Plan Benefit Services, Inc. [read post]
29 Mar 2022, 10:00 pm
LEXIS 129579, the US Department of Labor (DOL) brought a case against an independent transactional ESOP trustee (the trustee), but also named the seller of stock to an employee stock ownership plan (ESOP) as a defendant (the seller). [read post]
29 Mar 2022, 10:00 pm
LEXIS 129579, the US Department of Labor (DOL) brought a case against an independent transactional ESOP trustee (the trustee), but also named the seller of stock to an employee stock ownership plan (ESOP) as a defendant (the seller). [read post]
29 Mar 2022, 10:00 pm
LEXIS 129579, the US Department of Labor (DOL) brought a case against an independent transactional ESOP trustee (the trustee), but also named the seller of stock to an employee stock ownership plan (ESOP) as a defendant (the seller). [read post]
29 Mar 2022, 10:00 pm
LEXIS 129579, the US Department of Labor (DOL) brought a case against an independent transactional ESOP trustee (the trustee), but also named the seller of stock to an employee stock ownership plan (ESOP) as a defendant (the seller). [read post]
29 Mar 2022, 10:00 pm
LEXIS 129579, the US Department of Labor (DOL) brought a case against an independent transactional ESOP trustee (the trustee), but also named the seller of stock to an employee stock ownership plan (ESOP) as a defendant (the seller). [read post]
29 Mar 2022, 10:00 pm
LEXIS 129579, the US Department of Labor (DOL) brought a case against an independent transactional ESOP trustee (the trustee), but also named the seller of stock to an employee stock ownership plan (ESOP) as a defendant (the seller). [read post]
14 Jun 2011, 11:18 am by Cleveland Law Library
Gross is a partner at the Cleveland office of Benesch Friedlander, and he is Board certified by the Ohio State Bar Association in Labor and Employment Law. [read post]