Compass
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Regional Vice President of Sales The Retirement Plan Company
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AimPoint Pension
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Bates & Company, Inc.
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Unilateral Transfer of Participant Assets from Stable Value Fund Complied with Plan Terms and QDIA Rules
Wolters Kluwer Law & Business / CCH Aug. 3, 2012
"The sponsor of 403(b) plans did not breach its fiduciary duty to properly implement participant investment instructions when it transferred participants' standing investments in stable value accounts into an asset allocation fund, in compliance with Labor Department regulations governing qualified default investment alternatives, the Sixth Circuit Court of Appeals ... has ruled. The plan sponsor effectuated the transfer only after notifying the participants of the change and providing them with an opportunity to retain their prior investment. The fact that the participants did not actually receive the notice was not determinative."
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