Two things to chew on over the holiday, other than the turducken (I have always wanted to use that word in a sentence), one to know about before it occurs, the other to note before it disappears. I guess I could take that dichotomy a little further, and note that one concerns the first half
Fiduciaries
Recoupments and Set Offs Under ERISA Plans
By Stephen Rosenberg on
Here’s a very interesting decision, Northcutt v. General Motors Hourly-Rate Employees Pension Plan, out of the 7th Circuit, upholding the right of administrators to rely on recoupment language in a plan to set off a lump sum social security payment received by a beneficiary against on-going payment obligations to that beneficiary that would otherwise…
401(k) Plans and ERISA Class Actions
By Stephen Rosenberg on
Posted in 401(k) Plans, Fiduciaries
Jerry Kalish has a terrific post, drawing on a law firm white paper, about the potential ERISA liabilities of financial advisors and others who manage or otherwise help to run company 401(k) plans. As he discusses, class action lawsuits are being filed alleging ERISA violations in the operation of such plans; the suits stem…
401(k)s and ERISA
By Stephen Rosenberg on
Posted in 401(k) Plans, Fiduciaries
A terrific paper on the application of ERISA and its fiduciary duty standards to 401(k) plans and to the people who run them is available free right now from the ABA. As employee benefit plans, these retirement plans are within ERISA’s ambit and the companies and individuals who operate them are subject to the fiduciary…