Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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Regional Vice President of Sales The Retirement Plan Company
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The Ambushed Fiduciary: Does Authority Over a Corporate Bank Account Cross the Line?
Osler, Hoskin & Harcourt LLP Sept. 16, 2014 "[T]his officer had nothing to do with running the plan, and ERISA contemplates that a fiduciary (other than an investment adviser) is someone with discretion or control over plan administration or plan assets. This officer had neither in the common understanding of those terms simply because he was a signer on a corporate account, though the court accepted the [DOL's] argument that the unpaid employee contributions were plan assets. In fact, since it required two signatures to act for the account, this officer was unable to unilaterally even direct the contributions." [Perez v. Geopharma, No. 8:14-cv-66-T-33T (M.D. Fla. July 25, 2014)] |
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