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Establish Investment Committee to Be Investment Fiduciary Responsible for Prudently Managing Investment Portfolio (PDF)
Robert E. Jamison, Jamison Financial Services, Inc. via Fiduciary360, LP 
Dec. 11, 2007 Excerpt: According to LAW.COM, the St. Louis law firm of Schlichter, Bogard & Denton has filed thirteen lawsuits against Fortune 1000 companies. Northrop Grumman, Exelon, Lockhead Martin, International Paper, and United Technologies are among those that have been targeted for breaches in fiduciary duties to their plan participants. Prospectively, there are over a dozen more that will be filed, according to Rick Meigs, President, 401(k)helpcenter.com. These lawsuits seek to establish that plan sponsors and associated fiduciaries violated their duty of 'prudently managing' plans and their assets. The question then becomes, how do plan sponsors best manage personal liability (short of terminating their plan) associated with 401(k) plans. MORE >> |
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