» ERISA

New Law Helps Employers Manage Pensions

September 20th, 2012
According to USA Today, a new law recently passed by Congress and signed by the President will allow companies to avoid contributing billions of dollars owed to the already underfunded employee pension funds. Though this is meant to free up money for… Read More
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Categories: ERISA

"Business as Usual" Is a Recipe for Liability for an ERISA Fiduciary

March 24th, 2011
Businesses woo customers. But when the “customer” is a fiduciary acting on behalf of the “beneficiaries” of that fiduciary duty, the wooing better be solely for the benefit of the beneficiaries. Despite this clear, well-establ… Read More
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Categories: ERISA

Selecting Financial and other Service Providers for an Employee Benefits Plan

March 17th, 2011
We have grown accustomed to corporate executives lining their own pockets when making virtually any business decision, whether it benefits the corporation or not. When it comes to managing a employee benefit plan, however, acting under such self-inte… Read More
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Categories: ERISA

ESOP's Fable: A Tale of Conflicted Fiduciaries

March 10th, 2011
An Employee Stock Ownership Plan is an employee benefit plan recognized under federal law. An ESOP provides employees with “beneficial” title to stock in the corporation where they are employed. Such stock is held in trust, with the ̶… Read More
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Categories: ERISA

A "Lump Sum" Retirement Benefit Shouldn't Mean "Taking Your Lumps" in Your Benefit Calculation

March 3rd, 2011
True “pensions” are becoming a thing of the past for private sector employees. There was a time when most employees received a guaranteed monthly pension benefit for as long as they lived. Their retirement was secure. Now, by contrast, mo… Read More
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Categories: ERISA

Banks Pocket Spread from Pension Funds On Foreign Currency Exchanges

February 17th, 2011
State Street Bank and New York Mellon Bank have recently been sued for overcharging several public sector pension funds for foreign currency exchanges. The scheme alleged in the suits goes like this: the pension fund contracts with the bank as the cu… Read More
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Categories: ERISA