ESOPs -- pass through merger consideration election

[Guest walker]

If a plan document is silent as to whether a participant has the right to elect the form of merger consideration for the shares allocated to his account - can the committee administering the plan direct the trustee what to elect for all allocated and unallocated shares?

[RLL]

Hi walker ---

Yes....so long as the plan document(s) provide that the trustee is to be directed by the committee with respect to investment decisions.