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|Labor Secretary Chao Announces Agreement To Replace Enron Pension Plan Officials|
Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]
Feb. 13, 2002
Excerpt: Secretary of Labor Elaine L. Chao today announced that an independent fiduciary will be appointed to replace Enron Corporation's Administrative Committees, whose members currently serve as fiduciary of the company's three retirement plans.... The agreement, signed today by the Labor Department and Enron Corp., requires Enron to pay the independent fiduciary's fees for three years, up to a maximum of $1.5 million per year, plus associated expenses.
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