Nicholas Pension Consultants
Compensation Strategies Group, Ltd.
Nova 401(k) Associates
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|Text of American Bankers Association's Amicus Brief in Enron Case Addresses Duties of Directed Trustees (PDF)|
American Bankers Association
Oct. 28, 2002
61 pages. Excerpt: DOL suggests that the Court should adopt a broad 'know or should know' standard for a 'directed trustee' under ERISA, which is inconsistent with existing law and long-established trust industry practice. DOL fails to cite any legal basis grounded in ERISA in summarily rejecting the more limited 'clear on their face' standard found in the ERISA legislative history ... DOL suggests instead what would be an unworkable alternative.
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